According to Next Mortgage News.
Data for the week ending August 6 shows a shift in trends that signal that the days of the seller’s market we’ve been living in for the past two years could be numbered, according to a Realtor.com analysis.
In July, the median national home price was $449,000. And, for the week ending Aug. 6, listing prices rose by 15.5% over that same week last year, the analysis showed.
“While this marks the 34th straight week of double-digit price growth, the good news hiding within the bad is it’s also the second consecutive week of deceleration,” said Realtor.com Chief Economist Danielle Hale, which she said is a positive sign that home price growth might continue to stall out.
New listings also dropped 8% for the week ending Aug. 6, and homes spent three days longer on the market on average, the analysis showed.
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