Seattle sees highest growth; sales and inventory dropped nationwide
By Liz Lucking | Mansion Global
It’s still a heavy sellers market in the U.S. as national home prices rose by 7.7% in August— and where prices soared both sales and inventory dropped, according to a new Redfin report released on Thursday.
The home price increase was the largest year-over-year price gain since May 2015 the report said. The national median sale price was $293,000.
MORE: Seattle Leads U.S. Home Price Surge
Sales, though, fell 5.5% compared to August last year, reportedly the largest decline since July 2016, although 24.9% of homes sold above their list price. The number of homes for sale dropped 12.4%, the largest year-over-year decline in a 23-month streak of declining inventory.
