Reported 5 months ago
The article discusses how the median U.S. home sale price has reached a record high of $387,600, with a 4% year-over-year increase. Despite a slight decrease in weekly average mortgage rates, housing costs remain high, leading to a 4.2% decline in pending home sales. The market is constrained by low inventory levels, as homeowners are hesitant to sell due to rising interest rates. Buyers are advised to take advantage of motivated sellers by negotiating under asking prices or asking for concessions. Notable metro areas with significant price increases include Anaheim, Detroit, San Jose, Oakland, and West Palm Beach.
Source: YAHOO