2022 Q2 Home Pricing Update
US home pricing reached a historical record high last week with the median national home price at $373,500. And that doesn't sound like a tremendous amount of money if you live on the coast. But look at what lies between the two coasts. Tens of millions of homes in the Midwest and the flyover States are seeing historical pricing in the market that we're in. However, with where interest rates are beginning to go this week, hitting 5.25 percent, creeping towards five and a half to 6%, it is making affordability a huge issue which is causing a lot of buyers to pull out of of the marketplace.
If you are considering selling and you still want to take advantage of this historical seller's market, when inventory is still incredibly low, you have to move now or you're going to miss the boat.