Tag Archives: Median home sale price

Existing-home sales fell in June, as all four regions recorded year-over-year sales declines, according to NAR, with the South and West posting the largest decreases.

High mortgage rates have pushed monthly mortgage payments to a record $2,656, as slightly lower rates may escalate competition for the limited number of homes available and push up prices for the foreseeable future.

“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.

As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.

Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.

NAR reports that existing-home sales recorded a slight gain of 0.2% to a seasonally adjusted annual rate of 4.3 million units.

Boise, Idaho and Austin, Texas experienced the biggest drops in home prices as U.S. median home sale prices fell 4.1% across the board. Click through to see what that decline represents.

The average, median-priced home declined a bit more than 0.5%—the first annual drop recorded since 2012.

As home prices and mortgage rates fall from their peak, the typical homebuyers’ monthly housing payment declined nearly $300 from October, according to a new report from Redfin.