Poll results: Home prices are hurting
The latest monthly existing home-sales report from the National Association of Realtors shows the median home price was reported at an all-time hight of $426,900. That's 4.1 percent higher than last year's median price of $410,100.
The median price is right at the midpoint: half sold for more and half sold for less. The average price would be even higher, as astronomical prices at the high end of the market would elevate the figure.
“Even as the median home price reached a new record high, further large accelerations are unlikely,” Yun added. “Supply and demand dynamics are nearing a balanced market condition. The months supply of inventory reached its highest level in more than four years.”
So spoke the NAR.
HBSDealer posed the question: Are record home prices helping or hurting your business. Here are the results.
Click here to add your vote to the survey. And share your extended thoughts at [email protected].
