The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.
While sales have declined, home prices are still solidly strong. The median existing-home price for all housing types in March was $280,600, up 8.0% from March 2019.
You can see that since the pandemic the number of new listings has dropped significantly while our Pending sales are skyrocketing. We expect July to a serious bounce-back month for sold properties as the pending turn to sell.