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Median Existing-Home Price Jumps 5.3%

Mortgage News > Median Existing-Home Price Jumps 5.3%
Date: 05/31/2018    Median Existing-Home Price Jumps 5.3%

Competition for a short supply of inventory has pushed national existing-home prices up 5.3% over the past year, according to the National Association of Realtors. The new median sales price for existing homes as of April 2018 is $257,900. Inventory of properties on the market decreased 6.3% to 1.8 million during that same time. Potential buyers should be prepared for bidding wars and have a solid mortgage approval lined up to compete in today’s real estate climate. 

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