Nationally, the median price of existing homes sold in July 2018 rose to $269,600, up 4.5% from one year ago, but slower than the 5.7% appreciation in 2017.
This is the fifth straight month (since March 2018) that Realtors® reported a decline in buyer activity compared to conditions one year ago.
Eighty-six percent of respondents reported that home prices remained constant or rose in July 2018 compared to levels one year ago (91 percent in July 2017).
Compared to a year earlier, 66 out of the nation’s 100 largest metros became less affordable, whereas 7 were unchanged and 27 became more affordable.
As of June 2018, the national median sales price of existing homes sold rose to a peak of $276,900, the highest level since 2001.
Seventy-two percent of REALTORS® said that real estate was their only occupation—showing that agents heavily invest their time into the industry.
Prices continue to drift up this quarter with 90% of the markets showing home price appreciation.
It is noteworthy that, among the top ten metro areas with the most severe housing shortage, seven are located in California.
Manufactured homes have increasingly become safer, with customized designs that give them the look of site-built homes, while being highly affordable at half the cost of site-built homes.
Since U.S. workers are changing jobs more frequently than a couple of years ago, we take a closer look at the most popular moving destinations and the local housing market conditions in these areas.
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