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Report: U.S. Median Home Prices Jump 8% in Q3 2019
Single-family homes and condos sold for a median price of $270,000 in the third quarter of 2019, up 2.9% from the previous quarter and up 8.3% from a year ago, according to ATTOM Data Solutions’ Q3 2019 U.S. Home Sales Report.
The report showed that homeowners who sold in the third quarter earned a median profit that reached a post-recession high of 34.5%, up from 34.4% in Q2 2019 and 34.3% from Q3 2018.
“The seven-year U.S. housing boom is back in high gear. After a series of relatively small price increase quarters, home prices saw quite the uptick, seller profits rose and the problem of distressed sales continued to fade, helping to make the third quarter the strongest in four years,” said Todd Teta, chief product officer at ATTOM Data Solutions. “That all happened as mortgage rates sank back to near-historic lows, which clearly powered the market upward along with stock market surges and a continued strong economy. There had been signs before the latest surge of a cooling market, but they seem to have diminished, at least for now.”
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