Home sales end on a high note in 2019

The 2019 U.S. home buying year — which was marked by rising affordability in major cities — ended on another positive note with a strong December.

The National Association of Realtors reports that December sales were up 3.6 percent from November. Across all of 2019, 5.34 million homes were sold in the U.S., matching the 2018 total.

While homes continued to sell, listings dropped 8.5 percent year over year. This has led to a seller’s market with the median sales price continuing to climb. As we move through 2020, housing availability will be one of the key trends to monitor in the real estate market. People are clearly interested in buying homes, but finding a suitable property — and fending off other bidders — is a challenge in the current environment.

From a mobility perspective, the low housing stock and rising prices should be a positive for home sale programs, as sellers can expect more frequent “bidding wars.” On the flip side, if you’re providing home finding assistance, keep in mind some of the obstacles buyers are facing right now. And if you’re not offering home finding assistance as part of your mobility program, it could be a good time to talk to a relocation management company (RMC) about some options — buyers could certainly use the help these days.