Posts Tagged home prices

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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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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NAR predicts higher home sales, prices as 2018 continues

Economic strength, wage growth and more opportunities for jobs are expected to help boost the number of home sales and increase home prices in 2018. However, low inventory and weakening affordability is likely to keep these figures from accelerating rapidly. Lawrence Yun, chief economist for the National Association of REALTORS® (NAR) presented his 2018 midyear forecast at the 2018 REALTORS® Legislative Meeting and Trade Expo recently, stating that a moderate, multiyear increase in home sales and home prices is most likely in our future. After jumping 3.8 percent in 2016, existing home sales only gained 1.1 percent to 5.5 million

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