Mahoning Valley Housing Report Summary Help - Report Parameters and Definitions June 2014
Transactions (existing home sales) Per Month (TPM)
Recording Month* 444 (Change)
Month Previous* 307 44.6
Year Previous* 412 7.8
(347) slight increase - green arrow0.8%)
 
Transactions (existing homes sales) Per Year (TPY)
Recording Month* 4,161 (Change)
Month Previous* 4,129 0.8
Year Previous* 4,101 1.5%
(4,198) slight increase - green arrow(0.1%)
Transactions - Quarterly Review
2013.II 2013.III 2013.IV 2014.I 2014.II Q-change Y-change
1,162 1,183 1,071 781 1,126 44.2% -3.1%
View Chart

Transactions - Quarterly (existing homes sales, unadjusted)

 
Pending Home Sales (PHS)
Recording Month* 736 (Change)
Month Previous* 696 5.7%
Year Previous* 770 -4.4%
660 down arrow(-0.4%)
 
Supply of Active Inventory (SAI)
Recording Month* 3,751 (Change)
Month Previous* 3,203 17.1
Year Previous* 3,557 5.5%
(3,240) slight increase - green arrow(0.7)
 
Absorption Rate Index (ARI)
Recording Month* 10.8 Mo. (Change)
Month Previous* 9.3 Mo. 16.3%
Year Previous* 10.4Mo. 3.9%
(9.2) slight increase - green arrow(0.4%)
  15mo 12mo. 10mo. 8 mo. 6mo. 4 mo.  
Market Indicator
     
"Very Strongr" Buyer's Market - Chance of selling within 90 days  ~ less than 29.6%
Days On Market (DOM)
Recording Month* 125 Days (Change)
Month Previous* 106 Days 17.9%
Year Previous* 107Days 16.8%
(102) slight increase - green arrow(1.5%)
 
Residential Homes - Median Price Sold (MPS)
Recording Month* $85,000 (Change)
Month Previous* $75,000 13.3%
Year Previous* $72,750 16.8%
Home Price Index (HPI) 85.3 $83,888 on Aug. 06 = 100.0
($71,580) slight increase - green arrow(1.4%)
Median Price Sold - Quarterly Review
2013.II 2013.III 2013.IV 2014.I 2014.II Q-change Y-change
$67,580 $78,580 $66,445 $63,970 $77,330 20.9% 14.4%
View Chart

Median Price Sold - Quarterly Review (not seasonally adj.)

[* NOT SEASONALLY ADJUSTED - click chart icons below each KPI for seasonally adjusted data.]

Please note. Indicators are provided on a best-efforts, as-is basis as a free service. The MVHR is not audited and may may not be free of statistical, estimation, or omission  errors. RE/MAX Valley Real Estate makes no claim regarding their usefulness or implications.

(TPM) or Transactions per Month is defined as the 12 month moving average of single family homes that close during the recording Month.

The TPM is calculated as the total of Current Month Sales plus the Sales of the previous 11 months divided by 12 mo.

(TPY) or Transactions per Year is defined as a 12 month moving average of the 12 month total of closed single family transactions beginning with the current month. We take the total of the current month plus the previous 11 months (the current TPY) and compare that to the 12 month total (TPY) of each previous month to determine the market trend.

 

(PHS) or Pending Home Sales are defined as single family homes under contract but not yet closed.  Pending homes are considered a leading indicator of future sales. The PHS is a 12 month moving average of single family homes that are pending escrow during the recording month.

 

(SAI) or Supply of Active Inventory is defined as a 12 month moving average of the total of "All properties that are Active, Contingent, or Pending as of the last day of the current month.

 

(ARI) or Absorption Rate Index. Absorption rate, strictly speaking, is the rate (in months) at which a given market can 'sell' or 'absorb' all the homes that are currently on the market.

The ARI is defined as The ratio of all properties that are Active, Contingent, and Pending as of the last day of the current month, to all properties Sold during the preceding 12 months, then multiplied by ‘12 Months’ to yield the monthly rate of inventory absorption.

We than calculate a 12 month moving average of the individual monthly absorption rates to give us a monthly Absorption Rate Index.
 

 

(DOM) or Days on Market is defined as "The time between when a property is listed and the time it first goes under Contract/Contingent/Pending." (DOM) is a 12 month moving average of the days on market for all single family homes sold within the recording month.

Note that the DOM, therefore, only represents time on market for properties that actually sold, and does not represent the entire market of homes still active or pending. For this reason the ARI or Absorption rate is often called the 'True DOM.'

 

(MPS) or Median Price Sold is the 12 month moving average the median home price measured for all single family homes sold within the recording month.

Sales Price for the MVHR is reported as Median Home Price. The 'median' is found in a range of numbers by sorting the values of the data in order (highest to lowest) and then selecting the one square in the middle. Should the total number of values in the range be even, then the median is the mean (or mathematical average) of the two middle numbers. The median value usually presents a more accurate picture of the range distribution than a mean, especially when there are extreme  variations in value which would otherwise tilt the data.