REAL ESTATE UPDATES


		NewPanda REAL ESTATE UPDATE

REAL ESTATE UPDATES

Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets.

August 2023 brought 4.04 million in sales, a median sales price of $407,100, and 3.3 months of inventory. The median sales price is up 3.9% year-over-year, and inventory was up 0.1 months from August 2022.


	KEY HIGHLIGHTS:

	•	Pending home sales rose 0.9% month-over-month

	•	Homes received an average of 3.2 offers, up slightly from 3.0 last month

	•	Median home sales price declined by 0.8%

		What's turning homeowners into sellers? Getting back to the office
		A significant number of people who moved during the pandemic may need to move back, even if they lose money.

		Elevated Home Prices and Mortgage Rates, Limited Inventory are Home Buying Barriers, According to Realtors® and Prospective Home Buyers Across Races and Ethnicities
		The current real estate market's high home prices and mortgage rates, as well as limited inventory, are the top reasons that Realtors® and prospective home buyers across races and ethnicities cite as barriers to purchasing a home.

		Good news for homebuyers: Listings are up
		New listings rose by 4% in August, an atypical late-summer boost that may offer buyers a few fresh options.

"Home prices continue to march higher despite lower home sales ... Supply needs to essentially double to moderate home price gains."

- Lawrence Yun, NAR Chief Economist

Questions on sales - nationwide or right here in our neighborhood?

I'm always here to help with questions on buying, selling or anything home.

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