June is typically the biggest month for home sales, according to the latest RE/MAX National Housing Report, with month-over-month sales rising 5.4% from May. Meanwhile, the average close-to-list price ratio was 100%, meaning homes sold for their average asking price.
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According to the RE/MAX National Housing Report for February 2023, the median sales price experienced a slight rise over January, ending a seven-month streak of price declines.
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According to a new report from Redfin, one-third fewer homes went under contract in October compared to last year.
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Median sales price now sits below the highs recorded during June, while inventory hit a recent record high. Click through to find out what else RE/MAX’s National Housing Report found.
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Economists have found that improvements in the economy and a rise in wage growth will continue to push mortgage rates upward and decrease consumer house-buying power as 2021 bleeds into 2022.
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