U.S. Housing Market Price Trends
Realtor.com's weekly market data for the week ending June 26, 2021, shows that the median home price of all the listings increased by 11.6 percent over last year, notching the 46th consecutive week of double-digit price appreciation. In June of last year, home listing prices were rising at the rate of 5.1% year-over-year. The current rate of appreciation is almost two and a half times more than that. However, the influx of new sellers over the last couple of months has helped slow price gains. The rate of price increases in the double digits has slowed. If this continues a more usual seasonal price trend is projected in the second half of 2021.
As of this past month, the housing market set a new record for the fifth consecutive month, with a home price of $385,000. As the market balance improves, prices are likely to cool this fall season, as they usually do. Furthermore, as new sellers emerge, the declining trend in available homes for sale continues. Today’s housing market is not yet buyer-friendly, but it’s finally inching in a buyer-friendly direction.
Source: US Housing Market Forecast 2021-2022, Norada Real Estate Investments.
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