REALTORS® share updated home price data, homeowners’ wealth gain trends over the last decade, and a real estate forecast for the rest of 2023 Nationwide media tour conducted Live from Chicago at the REALTORS® Leadership Summit
New York, NY
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August 24, 2023 12:22 PM Eastern Daylight Time
A video accompanying this announcement is available at: https://youtu.be/iLFi4scvBfQ
Given the ever-changing housing market, many Americans are questioning whether it’s a good time to buy or sell a home.
Despite fluctuating mortgage rates and limited housing inventory, there are many reasons to consider making a move in the current market.
In fact, according to the National Association of REALTORS®:
• The national median home price in June was slightly less than the record high of nearly $414,000 in June of last year. Although existing-home sales saw a 3.3% decrease, home prices have held firm in most parts of the country.
• While mortgage rates are significantly higher than last year, they are still considered historically low and have remained relatively steady.
• Sales in the second half of the year should be notably better than the first half as job gains continue and more favorable mortgage rates are expected.
• Existing-home sales are expected to increase by 15.4% in 2024.
Moreover, homeownership continues to be a catalyst for Americans to build generational wealth.
Over the past decade, the median-priced home in the U.S. gained nearly $200,000 in value, making the typical homeowner 40 times wealthier than if they had not purchased a home or remained a renter.
An agent who is a REALTOR® can help you achieve the dream of homeownership and create long-term wealth and financial stability for your family.
A nationwide media tour was conducted on August 15th, live from the 2023 REALTORS® Leadership Summit, featuring senior leaders from the National Association of REALTORS®. Topics that were discussed during live TV and Radio interviews included:
· Highlights from the National Association of REALTORS® 2023 Second Quarter Metro Home Prices Report.
· Trends REALTORS® are seeing in national and regional markets this summer and expectations for the remainder of 2023.
· How REALTORS® are helping their clients navigate today’s housing market and build generational wealth through homeownership.
· Resources any homeowner or potential buyer can use to make more informed, efficient decisions.
To learn more about REALTORS® and to find a real estate agent visit realtor.com
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