US Housing Market’s Third Quarter Best in Nearly a Decade

Existing home sales rose by 3.4% in the 3rd quarter of 2015 and has been one of the best quarters for the housing market in nearly a decade. The quarter has lead to a new annual rate of 5.48 million sales in 2015. Existing home sales increased by 8.4% compared to 2014.

In the United States overall, the single family median home price hit $229,000, up 5.5% from the third quarter of 2014. While home prices and sales continue to climb, their growth rates have slowed to a much healthier pace, providing a bit more depth and consistency to the US housing market.

Median prices rose in 87% of US markets and only 24 of these areas reported prices lower than in 2014.

In the West, existing home sales increased by 3.9% and are 9.7% higher than a year ago.

Issues still remain with lack of home inventory, which have pushed prices up and eliminated some first time home buyers from feasibly buying a home. But generally, more buyers are now able to buy a home than before.

 

Source: http://realtormag.realtor.org/daily-news/2015/11/13/housing-has-best-quarter-in-nearly-decade

 

 

Hart Real Estate Solutions

www.hart.realtor

406.585.0000

Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 2 commentsHart Real Estate Solutions • December 22 2015 10:38AM
US Housing Market’s Third Quarter Best in Nearly a Decade
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