Leave a Message

Thank you for your message. We will be in touch with you shortly.

Median Monthly Housing Costs At New Record High

WRE News May 12, 2024

Buyer

Median Monthly Housing Costs At New Record High

The median U.S. monthly housing payment set a record high at $2,894 during the four weeks ending May 5, up 14% from one year earlier, according to new data from Redfin (NASDAQ:RDFN).

During this period, Redfin reported the median sale price reached $384,721, up 4.5% for a new record high. The median asking price of $419,519 was up 6.5%, also a new peak.

Redfin also noted 30% of homes sold above asking price, down from 32% a year earlier and more than 50% two years earlier – with 6.2% of home sellers dropping their asking price, the highest share since November and up from 4.3% a year ago.

While this occurred, new listings rose 9% year-over-year and pending home sales dropped 3% from one year earlier, the biggest decline in two months.


We are Your GPS to Success Let’s Get Started

We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today

Follow Us On Instagram