After two peak years in 2016 and 2017, the 2018 local housing market only outpaced the previous years in selling prices and total dollar volume. The housing market in January 2019 started out about where it was in 2015.
It is not unusual for January to be the least productive month of any given year. For a variety of reasons buyers and sellers push to close in December before year end. When we compare the number of houses sold and closed in December to January of the next year, there has been 25 to 37 percent drop in houses sold over the last five years. For example, home sales in January 2019 were 35 percent below sales in December 2018 (175 vs. 269).