The Red-Hot U.S. Housing Market Finally ‘Offers Hope’ for Buyers and Sellers, According to This Real-Estate Economist

 In Design, Education, Home Improvement, Interior Design, Lifestyle

Home prices are up 14% compared to this time last year, and mortgage rates have driven the average monthly payment 50% higher over the same period, so affordability remains a key concern for people looking to move.

Nearly half (49%) of sellers said they plan to sell their home at $500,000 and below, with 15% of them aiming for $200,000 or less, according to a report released Tuesday by real-estate site Realtor.com.

This year’s sellers “are looking to buy their next homes at more approachable price points,” the report noted, with more than half (53%) of sellers aiming to buy a property priced at $500,000 and below, and 17% looking for one costing $200,000 or below. 

Roughly 29% of sellers are trading up, and 32% making a lateral price move. (This is the first year Realtor.com asked these specific questions.)

 

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