(Data collected from Altos Research.)
The median list price in PHILADELPHIA, PA this week is $130,000.
With inventory and days-on-market basically unchanged and the Market Action Index decreasing, the market is not sending strong directional signal for the near-term outlook.
Supply and Demand
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
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