Posts Tagged real estate news

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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Sudden drop in Millennial homeownership points to weakening affordability; presents opportunity for home builders

house on chart showing decrease in statistics

Millennial homeownership dropped from a three-year high of 36 percent in the fourth quarter 2017 to 35.3 percent in the first quarter of this year, according to recent data from the United States Census Bureau. What’s causing young adults to start shying away from home buying? According to CNBC’s housing and real estate contributor, Diana Olick, the culprit is clear: weakening affordability and lack of available starter homes.

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