Things are looking up for the state of the housing market, according to new numbers from Realtor.com. The number of new listings has increased from previous weeks, and average asking prices have slightly increased. These both point to signs of the market is entering a recovery mode and that the worst may be behind us.
Median listing prices are now approaching pre-pandemic levels, and are showing year-over-year improvement. For the week ending May 23, median listing prices were up 3.1 percent.
“In the week ending May 16 the median U.S. listing price posted smaller increases of 1.5 percent. That’s why that 3.1 percent year-over-year increase looks encouraging,” according to Forbes contributor Ellen Paris.
Moreover, the data shows that over three quarters of large metros their median listing prices increase over last year.