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Home Prices Dip for the First Time in 7 Years

Mortgage News > Home Prices Dip for the First Time in 7 Years
Date: 04/23/2019    Home Prices Dip for the First Time in 7 Years

The median U.S. home sales price decreased in March to $295,100, the first drop in over seven years, according to Redfin. The last time the median price fell was in February 2012 when it declined to $171,600, the lowest point since the mortgage meltdown of 2007. Sales prices dropped in several West Coast metros, including San Jose and San Francisco. Total home sales increased by 2%, with sales growing in less-expensive markets and pulling back in the priciest metro areas.

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