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U S Median Y-o-y House Price Down 2.2%

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New Home Sales Up 13.8%, but Prices Fall


Publication date: 2006-04-27

By Mindy Fetterman

In a sign that the U.S. real estate market "still has some legs," the number of new homes sold in March rose 13.8% vs. February, the biggest monthly increase in 13 years, the Commerce Department said Wednesday.
But the median price fell, and some analysts see other signs that the real estate market is slowing and prices are headed down.
In March, the median new-home price -- half sold for more, half for less -- was $224,200, down 2.2% from a year ago, Commerce said.
It was the first time that the median price had fallen over a 12-month period since December 2003.
The apparent strength in sales today cannot possibly last," he says.
Housing inventory --
the number of homes on the market -- jumped 25% in March vs. last year, "the
fastest increase in 33 years
Shepherdson says. Median prices of new homes were down 2.2% in March, vs. a 13.6% increase in prices as recently as October.
That's an indication the real estate market "is horrible, and it's going to get really bad," Shepherdson says.

Could it be, as the EAs say, a sign of a soft landing or could the biggest HPC in history be exploding? The rise in people wanting to get out of the market, the fastest increase in 33 years, does not look good from a property investor's perspective.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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