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According to data from the National Association of Realtors, the median price for an existing home — one that’s already standing, not new construction — was $404,500 as of September 2024.
For new-construction homes, National Association of Homebuilders (NAHB) data shows that June’s median sale price was only slightly lower at $417,300. Inventory: The supply of homes for sale is ...
Will housing sales decline? The volume of home sales has continued to soften over the course of 2024: Existing-home sales in September were down by 3.5 percent from last year.
“Mortgage rates won’t fall enough [in 2025] to spur an increase in existing-home inventory, with most of the increase in inventory seen in the market coming from new construction,” says McBride.
New-construction prices are vulnerable to more than just demand — building materials also factor in. Whereas the national median price for an existing home was $408,600 in May, ...
Redfin Corporation, based in Seattle, provides residential real estate brokerage and mortgage origination services. The company operates in more than 100 markets in the United States and Canada. [ 1 ]