U.S. home prices were down slightly in June for the third consecutive month. Prices rose 3.4% year over year, the slowest rate since June 2023. 30 of the 50 most populous U.S. metros recorded a drop in home prices month over month. Prices fell most in Washington, D.C. (-1.8%), where home prices have been falling
Pending sales fell 3.5% year over year during the four weeks ending July 6. That was the second biggest decline since early February, trailing only last week’s 4.1% fall. The median U.S. home sale price hit a record $399,633, up 1% year over year. There were some encouraging signs for sellers with mortgage purchase
U.S. home prices in May ticked down 0.1% on a seasonally adjusted basis—only the fourth time in the past decade when prices have posted a monthly decline. Home prices rose 3.6% year over year—the first time annual growth has been below 4% since July 2023. 32 of the 50 most populous U.S. metros recorded a
The risk of selling at a loss varies significantly in different parts of the country; nearly 20% of sellers are at risk of losing money in San Francisco, compared to virtually 0% of sellers in Providence, RI. Nearly one in 10 condos are at risk of selling at a loss. And nearly 30% of condos
The number of major metros where you can buy a luxury home for less than $1 million has shrunk from 30 to seven since 2020. Detroit is the most affordable metro for luxury homes, with a median price of $753,851—44.1% less than the typical luxury home nationwide. San Francisco is the most expensive, with a
49% of newly built apartments completed in the fourth quarter of 2024 were rented within three months—the fifth consecutive quarter with an absorption rate below 50%. New apartments are being completed at near-record levels, with the increase in supply keeping rents down and providing renters with more opportunities to negotiate concessions. Larger 3+ bedroom apartments