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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Sunday, July 21, 2019

US median home price reaches new $266K peak

Home prices are still climbing steadily south of the border with increases in the majority of local markets analyzed for a new report.

ATTOM Data Solutions reveals a record high median US home price including single-family and condos, of $266,000 in the second quarter of 2019, a 10.8% rise from the previous quarter and a 6.4% increase year-over-year.

"As warmer weather brings a rush of house hunters to the market, the latest spike in median home prices marked the largest quarterly increase since the second quarter of 2015 and the third biggest increase since the market started climbing out of the Great Recession in 2012," said Todd Teta, chief product officer at ATTOM Data Solutions.

Prices increased in 89% of markets analyzed – or 133 of 149 metros – led by Atlantic City, New Jersey (16.0%); Boise City, Idaho (14.0%); Chattanooga, Tennessee (13.9%); Mobile, Alabama (11.2%); and Madison, Wisconsin (10.8%).

"However, in looking at historical trends, the second quarter of every year has always shown a quarterly increase, going as far back as 2005. So, with mortgage rates dipping to new lows, it's no surprise that people were wanting to buy a home, even if prices were at their peak. We expect to see milder home prices in the coming quarters," added Teta.

Homeowners are staying put longer

Homeowners are staying in their homes longer, again a new record, with the report showing that those who sold in the second quarter had owned an average of 8.09 years, up 3% from last quarter and up 4% from Q2 2018.

Sellers also realized an average gain of $67,500, up from $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The gain meant a 33.9% return as a percentage of original purchase price.

Meanwhile, Total distressed sales accounted for 11.4% of all single family and condo sales in Q2 2019, down from 14.0%in the previous quarter and up less than 1% from the same time last year.

MBN

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