Housing markets across the nation are very active, and buyer competition is manifesting itself into several quick sales above asking price. The strength of the U.S. economy, along with the Fed’s increasing the federal funds rate by 0.25, buyers often move forward and lock-in at the current rate ahead of assumed higher rates later. When this happens, accelerated price increases are possible, causing further strain on affordability.
The Median Sales Price is up by 5.7% for existing homes and 2.4% for new homes metro wide. Below is a quick look at the national home market.
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