July 20, 2023
No. You’re not imagining it. It’s tough to buy a home right now.
Not only is existing home inventory low – but prices are really high.
According to today’s National Association of Realtors report for June — if you want to buy — not a new home – an existing home – the national median price for the month of June was $410,200. That’s the second highest all-time price nationally. The all-time high was June of last year when the national median home price was $413,000.
In the north east – the median existing home price was up over last year to $475,300. In the Midwest it was also up to $311,800. In the south — existing home prices were down just a bit from last year to $366,600 and in the west they were also down to $606,500.
The report also found existing home inventory nationwide – including single-family, townhomes, condos and co-ops, was down 13.6% from last year.
Read the full report here.
