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Home Prices Increase $50,000 In October
Episode 73
Published 4 years, 5 months ago
Description
The average price of a home jumped $50,000 in October, hitting a new all-time-high of $1,226,000. This happened in a month where sales jumped 11% and inventory dropped a whopping 13% hitting a record low for the month. These metrics pushed the Sales to Active listings ratio up to 45%, deep in a Sellers market. In this episode we examine all 3 price metrics and explain what is driving this continued upward price pressure and when things might turn around.
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