“In this market, homebuyers have to move fast, yet high prices and low inventory are slowing down even the most earnest of house hunters,” said Redfin chief economist Nela Richardson.
The median home sale price increased 7.3 percent from a year ago to $298,000 in June. This is the highest national median sale price recorded since we began keeping track in 2010. Despite record-high buyer demand during the busy spring market, sales only increased 1.9 percent compared to last year, constrained by a low supply […]
In May 2017, Redfin commissioned a survey of 3,350 U.S. residents in 11 metropolitan areas who in the past year bought or sold a home, attempted to do so or plan to do so soon.
With the supply of homes for sale at historic lows, the high buyer demand is likely to continue to drive up housing prices in major metros over the next two months.