On May 9, 2023, National Association of Realtor (NAR) reported on nationwide existing home sales values lower 0.2% to a median single family home price was $371,200 at the end of 1st quarter of 2023, from the end of 4th quarter of 2022, buy higher 4.0% from 1st quarter of 2022.
The most expensive housing market was San Jose-Sunnyvale-Santa Clara, California Metro area an average price of a home was $1,618,400 in the 1st quarter of 2023.
Regionally, the South gained 1.4.0%, the Northeast 0.1%, the Midwest increased 2.9%, and the West rose 5.3% in the 1st quarter of 2023 from 1st quarter of 2022, according to NAR on May 9, 2023.
NAR chief economist Lawrence Yun, stated "Generally speaking, home prices are lower in expensive markets and higher in affordable markets, implying greater mortgage rate sensitivity for high-priced homes,"For more complete information, on NAR's 1st quarter of 2023 home sales report, please click HERE
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