: Home prices keep rising, but sales fall for the first time in 15 months #FinanceUSA #StockMarketNEWS The median sale price for a home in August rose year-over-year by more than double-digit percentages
@stockMarketNEWS Thu 16 Sep, 2021
Home prices keep rising, but sales fall for the first time in 15 months #FinanceUSA #StockMarketNEWS
The median sale price for a home in August rose year-over-year by more than double-digit percentages for the 13th-straight month, but sales fell for the first time in 15 months, according to real estate services company Redfin Corp. The median home-sale price was 0,271 in August, down 1.0% from July but up 16.2% from the same period a year ago, with prices increasing in 83 of the 85 largest metro areas tracked by Redfin. The largest price increases were 36% in Austin, Texas and 25% in Phoenix, Arizona, while the two areas of declines were Milwaukee, Wisconsin (down 1.6%) and Bridgeport, Connecticut (down 1.1%). "When it comes to home prices in this market, what goes up stays up," said Redfin Chief Economist Daryl Fairweather. Meanwhile, seasonally-adjusted home sales fell 1.4% from July and 6.0% from a year ago, with sales declining in 44 of the 85 largest metro areas. The biggest sales declines were 23% in New Orleans, Louisiana and 16% in Salt Lake City, Utah, while the biggest gains were 65% in New York, New York and 47% in Honolulu, Hawaii. Redfin's stock has tumbled 29.4% year to date, while the iShares U.S. Home Construction ETF has run up 24.8% and the S&P 500 has rallied 19.3%.