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Tagged : median home price

Found 3 blog entries tagged as "median home price". - When it comes to existing-home sales and the national median home price, rates are on the rise.

According to the National Association of Realtors (NAR), total existing-home sales, including single-family, townhomes, condos, and coops, grew by 2.3 percent for the month of July. Single-family home sales increased 2.1 percent. Existing condominium and co-op sales rose 4.3 percent.

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1,044 Views, 0 Comments - The RE/MAX National Housing Report found that the national median home price rose for the third straight month in April, indicating that the housing recovery in 2012 is continuing.

 The report surveyed 53 metropolitan areas and found that the median home price was $161,000, 3.2 percent higher than in March and 5.9 percent higher than in April 2011. February marked the first time in 18 months that home prices experienced an increase, and data from March and April shows a positive trend.

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 Housing affordability is still at a record high, according to the National Association of Realtors (NAR). It is at the highest level since record keeping began in 1970. This is based on the relationship between median home price, median family income and average mortgage interest rate.

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said this latest data underscores buyer opportunities in today’s market. "This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median-priced home," he said. "For buyers who can qualify for a mortgage, now is a very good time to become a homeowner." To read more on this article,…
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