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The latest report from ATTOM Data Solutions says that the median home price in the United States n the third quarter was $248,000 – a record high and 3 percent above the peak set in 2005. Home prices in the United States rose 10 percent from the third quarter of 2016.
Home sellers in San Jose and San Francisco gained the greatest profit on their transactions at 80 and 71 percent respectively.
Nationwide, home sellers reaped profits of 31 percent, the highest figure in over 10 years.
The National Association of Realtors’ quarterly Housing Opportunities and Market Experience survey reports that 71 percent of homeowners believe that now is good time to put a house on the market up from 61 percent in the second quarter of 2016. On the other hand, the reports shows that Americans are less confident in the economy and their personal financial outlook.
Housing affordability remains a big problem due to slow wage growth and rising home prices, especially in the more expensive areas of both coasts.
According to The Mercury News, the median price for a single-family home reached an all-time high in May at $818,000.
