From NAR: The median existing home price for all housing types in April was $407,600, an increase of 5.7% from the previous year ($385,800). All four U.S. regions registered price gains. Looking ahead, price growth will cool down in the second half of 2024 because of increased inventory and more homes taking a price cut [...]read moreExpect the growth rate of existing home prices to cool down this year
Existing home sales fell in today’s report, which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR: The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the [...]read moreWhy are exiting home prices rising when sales are still so low?
Existing home sales slumped last month under the weight of elevated mortgage rates. Existing home sales receded by 4.3% in March to a seasonally adjusted annual rate of 4.19 million, down from 4.38 million in February, according to a report released Thursday by the National Association of Realtors (NAR). Year over year, sales fell by [...]read moreExisting home sales retreated in March: NAR