Soaring interest rates were the dominant factor in October’s market, but a large drop occurred in November, which many analysts expect to continue.
Inflation dropped in the latest reading, a very positive development for economic conditions, interest rates, and housing and financial markets.
In a typical seasonal trend, the monthly median house sales price in October 2023 declined slightly from September – but was up 3% year-over-year.
Long-term, annual median house sales prices since 1980, with an estimate for 2023 YTD.
Q3 median house price appreciation since 1990. Over the long term, home-price appreciation has far outpaced inflation.
Q3 median house prices – and year-over-year appreciation rates – across a wide range of major U.S. metro areas. 80% saw y-o-y price increases.
A survey of national home sales by price segment. As seen in the table above, there is a terrific range of home prices across the nation.
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