Housing Inventory Rises, But So Do Prices

For the first time in three years, home inventory increased, but home prices climbed to a new all time high by half a million dollars.

According to National Mortgage Professional, “While this real estate refresh is welcome news in a still-undersupplied market, it has yet to make a dent in home price growth,” Hale said. “Importantly, as 72% of this year’s sellers also plan to purchase a home, seller expectations will likely start to reflect buyers’ needs.”

The median house price also trended upwards, reaching an all time high of $447,000 after recently crossing the $400,000 threshold in March. The prices rose at a faster year-over-year pace of 17.6% than last month’s 14.2%.

Read More

This website, digital publication, and all of its contents are the copyright protected legal intellectual property of Builder Media. None of the protected content of this publication may be copied, shared, forwarded, reposted, reformatted or in any way utilized for any purpose without the written permission of the Publisher, under penalty of suit as provided by U.S and International laws governing copyright.