United States Housing Market

Home prices nationwide were up 2.9% year-over-year in August. At the same time, the number of homes sold fell 13.5% and the number of homes for sale fell 17.7%.

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U.S. Housing Market Overview

What is the housing market like right now?

In August 2023, U.S. home prices were up 2.9% compared to last year, selling for a median price of$420,385. On average, the number of homes sold was down 13.5% year over year and there were 480,850 homes sold in August this year, down 555,932 homes sold in August last year. The national average 30 year fixed rate mortgage rate is at 7.1% and up 1.8 points year over year.…

The direction and pace at which home prices are changing are indicators of the strength of the housing market andwhether homes are becoming more or less affordable. The median price of a home in the United States is currently $420,385.…

Median Sale Price

(All Home Types)

$420,385

+2.9% YoY | Aug 2023

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $420,385.

Location

Data

Aug 2023

Growth

% YoY

$420,385

+2.9%

Top 10 Metros in the U.S. with the Fastest Growing Sales Price

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United States Housing Market

U.S. Housing Market Overview

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