Tag Archives: median sale price

Redfin reports the median sale price of luxury homes rose 4.6% year-over-year in Q2, with prices being propped up by a lack of supply, which is fueling competition in many markets nationwide.

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.

A record low number of homes for sale have propped up prices, increasing the average home sales price to near record highs.

Due to the increased cost of living and evolving work trends, Americans are now moving to smaller cities with lower median home values, according to a new report from Gravy Analytics.

Consumer confidence in the housing market may have plateaued, according to Fannie Mae's Home Purchase Sentiment Index (HPSI), which remained mostly flat in June, as shrinking supply and affordability conditions continue to pose challenges.

"Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. "The lack of housing inventory continues to prevent housing demand from being fully realized."

An estimated 300 people a day moved from California to Texas in 2021, and the popular migration route is becoming even more crowded, according to a new analysis from StorageCafe.

The overall lack of new listings nationwide has pushed the total number of homes on the market down 5% year-over-year, reaching their lowest level of any early June on record, according to a new housing market update from Redfin.

A new survey conducted by Clever Real Estate examined homebuyer and seller regrets about their recent experiences, including looks at post-purchase financial struggles and how many of those surveyed view now as a good time to engage with the housing market.

As many Americans are leaving their hometown in search of more affordable areas, elevated mortgage rates and a shortage of inventory continue to deter U.S. homebuyers, as overall home sales dropped 22% from a year earlier in April.