This is up nearly 17% looking at prices too. The median home price of $321,100 that is substantially higher than we saw in April of 2015 where we were around you know $280,000. Now we are seeing supply dropped to a 4.7 month supply we were at a 5.8 month supply just one month ago so you're seeing supply drop you're seeing prices go significantly higher. This may be a measure of people buying more expensive homes we saw that in the Toll Brothers numbers today they beat on their earnings for Q2 and their median price was significantly higher. We're seeing the numbers skew towards the more expensive homes and you're seeing that in this median price on the new home sales. The street was looking for $524,000 - $619,000 lot of folks are going to say "ok" these numbers are very wide margins of errors but still that's very significant. And we want to also know that these new home sales numbers are based on contracts signed in April not closings not like existing home sales numbers so these are folks out shopping in April for newly built homes.

 

Metropolitan Area

Zillow Home Value Index (ZHVI)

YoY Home Value Change

Percent Inventory Change for All Homes

Bottom-Tier Percent Inventory Change

Middle-Tier Percent Inventory Change

Top-Tier Percent Inventory Change

Condo Percent Inventory Change

Denver, CO $336,600 15.2% 0.1% -2.3% 15.3% -4.8% 6.8%
Portland, OR $325,400 15.1% -31.6% -39.8% -39.0% -21.6% -43.5%
Dallas-Fort Worth, TX $183,700 12.6% -21.0% -32.1% -35.1% -11.9% -33.6%
San Jose, CA $962,400 12.3% 1.3% -3.8% 3.2% 5.8% 7.1%
Seattle, WA $386,300 11.6% -21.1% -28.5% -20.9% -15.6% -23.9%
Miami-Fort Lauderdale, FL $232,800 10.5% 18.0% 10.3% 16.6% 21.9% 28.7%
San Francisco, CA $806,800 10.0% -2.1% -14.9% 0.1% 6.1% 11.9%
Tampa, FL $165,600 9.7% -16.2% -27.9% -19.3% -8.1% -12.8%
Austin, TX $250,400 8.9% 2.6% n/a n/a n/a 20.6%
Phoenix, AZ $220,600 8.8% -8.0% -20.2% -6.6% -4.1% -15.6%