Home Prices Up 14%, But Price Growth May Wane Soon

SEATTLE, Oct. 5, 2020 /PRNewswire/ — (NASDAQ: RDFN) — The median home sale price increased 14% year over year to $319,769—the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The 14% jump was the largest since August 2013. Since the four-week period ending July 5, home prices have increased 6.5%. Over that same period in 2018 and 2019, prices declined an average of 4.2%



Below are other key housing market takeaways for 434 U.S. metro areas during the 4-week period ending September 27.

  • The median asking price of new listings was up 12.8% from a year earlier. This growth rate has been declining since the four-week period ending August 30, when it peaked at 15.7%.
  • Pending home sales climbed 30% year over year.
  • New listings of homes for sale were up 5% from a year earlier. Year-over-year growth in new
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