Archive for the Real Estate Category

Existing-Home Prices Hit All-Time High

house on chart showing decrease in statistics

The median price of a home in the U.S. hit an all-time high, and is likely to continue to rise. According to a recent report from the National Association of Realtors®, buyers paid a median price of $267,500 for an existing home in May. Existing homes are considered homes that have been lived in previously, as opposed to new homes that were recently constructed and have never been lived in before. This median price is nearly 3% higher than it was the month prior, in April. 

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Builder confidence drops slightly as lumber prices climb

home builder constructing a wooden frame

As the price of lumber increased, builder confidence in the market for newly-constructed, single-family homes dropped slightly in June. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builder confidence fell two points to 68, due in large part to the recent sharp rise of lumber costs in the U.S.; however, the June HMI reflects that overall confidence remains on solid ground.

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Americans optimistic about home prices

Young Woman Holding A Box Of Currency Over White Background

New data shows that home prices are soaring, and despite warnings from some industry experts and analysts, most Americans are very confident that prices will continue to rise. A majority of U.S. adults (64% to be exact) continue to believe home prices in their local area will increase over the year, according to the results of a recent survey by polling firm Gallup. This reflects an increase of nine percentage points over the last two years and is the highest percentage since before the housing market crash and Great Recession in the mid-2000s. 

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