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Median Home Price Hits Record High as Active Listings Hit All-Time Low
The median price for a home hit a record high in the four week period to March 20, rising 17% year-over-year to $379,230 and a blistering 6% from the previous four week reporting period, according data compiled by brokerage firm Redfin.
Driving prices higher was strong demand feeding into a marketplace where there were few listings, in other words a seller’s market. New listings for homes for sale fell 7% yoy, while active listings plummeted by 23% to 469,000, an all-time low.
59% of homes under contract had an accepted offer within two weeks on the market, an all-time high and up from 53% yoy.
Redfin data goes back to 2012.
- ◦Economy
