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REAL ESTATE UPDATES
Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets.
July 2024 brought 3.95 million in sales, a median sales price of $422,600, and 4.0 months of inventory. The median sales price is up 4.2% year-over-year, and inventory was up 0.7 months from July 2023.
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KEY HIGHLIGHTS:
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New home sales up 10.6% compared to June |
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Existing home sales grew 1.3% in July, even though the median sales price is up 4.2% from 2023 |
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Inventory of unsold existing homes up 0.8% from June |
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New homes shine in a sluggish market
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While new home sales represent a smaller portion of the overall market compared to existing home sales, there is a potential shift on the horizon. |
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"Home sales are still sluggish ... But consumers are definitely seeing more choices, and affordability is improving as mortgage rates have eased slightly."
- Lawrence Yun, NAR Chief Economist
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Questions on sales - nationwide or right here in our neighborhood?
I'm always here to help with questions on buying, selling or anything home.
Lisa McCarthy | 513-256-2629 | [email protected]
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