Steve Resch, vice president of Retirement Strategies at Finance of America Reverse, says more homeowners are tapping the equity in their homes as inflation continues to increase the cost of living. While these conditions present a challenge for people who hope to purchase a home, it continues to be good news for current homeowners regardless of whether they plan to sell or not. That’s a 17.6% increase when compared to May 2021. The report shows that the median listing price hit an all-time high of $447,000 in May. Despite the increase in available homes and a recent jump in mortgage rates that has made a home purchase less affordable for many, sellers continue to push the envelope when it comes to listing prices. "Among key factors fueling the inventory comeback are new sellers, who are listing homes at a rate not seen since 2019, as well as moderating demand, with pending listings declining year-over-year in May," Hale said.īut buyers continue to face headwinds. Danielle Hale, ’s chief economist, says there are probably a couple of reasons for that. Housing inventory, which is a measure of available homes for sale, recorded the first year-over-year increase in May since June 2019. But after hitting new record lows earlier this year, a report from suggests that this trend is reversing. Photo (c) anyaberkut - Getty ImagesHome prices have posted record gains in recent years, in part because of a lack of homes on the market.
0 kommentar(er)
