US Home Prices Up 7% in December

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A record shortage of homes for sale drove prices up on a monthly and annual basis. U.S. home-sale prices increased 6.9% year over year in December to a median of $312,500 across the 217 metros Redfin tracks. Home prices were also up 1.1% month over month on a seasonally-adjusted basis, the largest increase since February 2018. “Low mortgage rates and … Read More

U.S. Home Prices up 5.4% in October

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Low mortgage rates prop up homebuyer demand as inventory declines U.S. home-sale prices increased 5.4% year over year in October to a median of $313,200 across the 217 metros Redfin tracks. The increase was the largest since July 2018, although current strength may be overstated given the weakening housing market a year ago. Prices also rose 1.4% between September and … Read More

Home Sales Little Changed in September

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Home prices up 5% annually, the biggest increase in over a year. U.S. home-sale prices increased 4.6 percent year over year in September to a median of $308,800 across the 217 metros Redfin tracks. This is the largest year-over-year increase since July 2018. “The demand-driving effect of low mortgage rates is being cancelled out by jitters about the overall health … Read More

U.S. Home Sales Post Biggest Increase in More Than 2 Years in August

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Recession fears keep home-price gains in check at 3% as supply and demand shift toward sellers’ favor U.S. home-sale prices increased 2.7 percent year over year in August to a median of $312,200 across the 217 metros Redfin tracks. Home prices have been growing in a tight range between 1 and 3 percent year over year since September 2018. “Although … Read More

Home Prices up 3.4 Percent in June as Supply Flattens

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The typical home sold in June went under contract in just 35 days, matching last year’s record-fast pace, as falling mortgage rates lured more buyers to the market. U.S. home-sale prices rose for the third consecutive month in June, growing 3.4 percent year over year to a median of $321,200 across the metros Redfin tracks. The growth rate of home … Read More

Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months

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Some expensive markets like San Jose, Seattle, and Boston are still seeing big gains in for-sale home inventory, while affordable markets like Oklahoma City, Buffalo, and Memphis are already experiencing big declines. The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September. This marks the … Read More

Here’s What Homebuyers and Sellers Can Expect if the Fed Lowers Rates

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Lower mortgage rates tend to push up housing demand and prices. A weakened stock market and looming economic fallout from trade wars have led many to expect that the Fed will lower interest rates this year . If the rate cuts come, and translate to a decline in mortgage rates, homebuying will become marginally more affordable, which is likely to … Read More