Using Your Tax Refund To Achieve Your Homeownership Goals This Year
If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like
Here we go again!
Hi everyone, I don’t know if you’ve heard but housing inventory is low and has helped push the median sale price for existing homes to another all-time high in June, the National Association of REALTORS® reports. I feel like I can hear DJ Khaled saying “another one” lol
Last year we had broken of the median sales price record and this year we surpassed it by 5.2 percent. The low inventory, high home prices may have had an effect on existing home sales in June, which fell for the third consecutive month.
“There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining,” says NAR Chief Economist Lawrence Yun. “The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast and, in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”
Here’s a closer look at key indicators from NAR’s June housing report:
As always, thank you for reading. Have a fabulous day!
xx
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