Housing prices aren’t coming down anytime soon according to realtor.com. In its latest housing report, the take-away is housing prices around the country remain at record highs as we move towards year-end. The U.S. median home price hit $350,000, a 12.9 percent year-over-year increase. Consider that’s the largest annual price growth since 2017.
Climbing prices have not kept buyers away. “This an unusual Fall market because it’s October and we are still seeing lots of buyers. The low-interest rates mean buyers can qualify for higher-priced homes which drives up market prices,” notes Danielle Hale, chief economist for realtor.com. “It does not appear prices are coming down anytime soon,” Hale adds.
The numbers showed 21 continuous weeks of median listing prices rising. Inventory declines were slightly down. This is a small sign “sellers may be staying in the market”, according