Home Prices Hit New Record

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home Prices Hit New Record Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Home / Daily Dose / Home Prices Hit New Record Tagged with: Home Prices Homebuyers Inventory Sales Previous: Talking Mortgage Reform Next: The Industry Pulse: Updates on Equifax, Tromberg Law Group, and More April 4, 2019 856 Views Home Prices Homebuyers Inventory Sales 2019-04-04 Seth Welborn  Print This Post About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News According to a recent report from Realtor.com, the median U.S. home price just hit $300,000 for the first time. Realtor.com’s March 2019 monthly housing trend report, released on Thursday, reveals a seven percent year-over-year median listing price increase.”The typical U.S. home list price has set a new high right on the cusp of the spring homebuying season, and despite a slowing growth rate, home prices will likely continue to set new records later this year,” said Danielle Hale, Realtor.com’s Chief Economist. “Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions. A buyer’s experience will vary notably depending on the market and price point they’re targeting.”Realtor.com notes that the increase in home prices this year has been affected primarily by inventory growth in the high-end of the market. The report notes that for-sale homes priced over $750,000 increased 11 percent year-over-year, despite entry level homes priced $200,000 or below declined 9 percent during the same period.This season’s increase is still relatively slow compared with recent months. Hale states that the rate of inventory growth slowed compared to the last few months and this slower-growth trend could continue into April, especially if fewer new listings hit the market. March saw a four percent year over year increase in homes for sale, up by 56,000 additional homes.However, March’s growth was primarily focused in the 50 largest U.S. markets, which saw a nine percent growth in inventory.Despite the increased inventory, Realtor.com notes that many metroes saw a year over year decline in fresh properties. Nationally, the number of newly listed properties hitting the market declined by 0.4 percent from last year, meaning more options for buyers, but not many fresh opportunities. Some metroes saw significant year over year decreases in inventory. For example, St. Louis, Washington, D.C., and Oklahoma City, where inventory declined by 19 percent, 14 percent and 11 percent. The East Coast, however, saw significant inventory gains, with San Jose, California; Seattle, and San Francisco, growing by 114 percent, 77 percent and 44 percent, respectively. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Demand Propels Home Prices Upward 2 days agolast_img read more