Posts Tagged real estate news

In some metros, home prices have hit new highs

100-dollar bills in cash

Across the United States, there are several metros where home prices have never been this high. Roughly half of 105 metro areas studied by ATTOM Data Solutions, a real estate data provider, were above their prerecession home price peaks in the first quarter of this year. “Rising interest rates and recently enacted tax reform that removed some tax incentives for homeownership were not enough to cool off red-hot home price appreciation in many parts of the country, with 30 of the 105 local markets analyzed posting double-digit gains in median home prices in the first quarter,” said Daren Blomquist, senior

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Existing-Home Sales Hit 11-Year High

Housing chart with blue arrow

The number of existing-home sales increased as a whole for 2017, reaching an 11-year high despite December’s sales subsiding from the previous month. According to the National Association of Realtors (NAR), total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million).

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Nearly 1 in 4 home buyers paid above listing price in 2017

House with Sold Sign

With tight housing inventory and low mortgage rates highlighting the end of 2017’s real estate market, buyers made more aggressive bids to secure the homes they wanted. According to recent data from Zillow, 24 percent of home buyers paid more than the asking price last year–the biggest share since the real estate website began compiling the data in 2012.

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