The Smith Letter

The Smith Letter

Where Property Prices Are Trending by Type

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The Smith Letter
Jun 24, 2024
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WHAT’S MOVING THE MARKET

  • The median U.S. home-sale price hit a record $396,000, but buyers now wield more negotiating power. Homes listed for 30+ days are seeing price cuts, with the highest rate of reductions since November 2022. Pending home sales dropped by 3.8%, the largest year-over-year decline in nearly four months, as high housing costs deter buy…

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