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Existing Home Sales "Cooled" in Q2, Prices Did Not

Wednesday, August 8, 2018

The National Association of Realtors® (NAR) said existing home sales cooled during the second quarter amidst what it called "staggeringly low" inventories and steadily appreciating prices. The median national price of an existing single-family home in the second quarter was $269,000, which is up 5.3 percent from the second quarter of 2017 ($255,400) and surpasses that number as the new peak. The median sales price during this year's first quarter rose 5.7 percent on an annual basis.  NAR's quarterly existing home sales report focuses on major metropolitan markets, and the second quarter edition says that single-family home prices increased during the period in 90 percent of measured markets.

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