On November 1, 2018, National Association of Realtors (NAR) reported that regional existing home sales in the Northeast dropped 0.5% in the 3rd quarter of 2018, from 2nd quarter of 2018, and fell 3.8% from 3rd quarter of 2017. The median price in the Northeast was $301,500 in the in the 3rd quarter of 2018, gained 6.1% from 3rd quarter of 2017.
Home sales in the Midwest declined 0.3% in the 3rd quarter of 2018 from 2nd quarter of 2018, but higher 1.0% from 3rd quarter of 2017. The median price in the Midwest was $206,800 in the 3rd quarter of 2018, rose 2.1% from 3rd quarter of 2017.
Home sales in the South decreased 4.4% in the 3rd quarter of 2018 from 2nd quarter of 2018, and up 0.3% from 3rd quarter of 2017. The median price in the South was $234,300 in the 3rd quarter of 2018 rose 3.4% from 3rd quarter of 2017.
Home sales in the West lower 2.9% in the 3rd quarter of 2018 from 2nd quarter of 2018, and fell 7.9% from 3rd quarter of 2017. The median price in the West was $395,500 in the 3rd quarter of 2018, jumped 4.8% from 3rd quarter of 2017, according to Jane Dollinger of NAR on November 1, 2018.
NAR chief economist Lawrance Yun, stated “As mortgage rates continue to rise, reaching the decade’s highest rates this quarter, an increase in the supply of affordable homes has become even more important to help temper price growth across the country.”
For more complete information, on NAR's 3rd quarter of 2018 regional existing home sales report, please click HERE
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