Hot Late-Summer Fuels Double Growth in Home Prices

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Real Estate

August 2020 Monthly Housing Market Trends Report: Hot Late-Summer Market Fuels Double-Digit Growth in Home Prices

National inventory declined by 36.4 percent year-over-year, and inventory in large markets decreased by 38.1 percent.
The inventory of newly listed properties declined by 11.8 percent nationally over the past year, and 11.4 percent in large markets
The August national median listing price was $350,000, up 10.1 percent year-over-year. Prices rose 8.9 percent in larger markets.
Nationally, the typical home spent 56 days on the market in August, five days less than the same time last year. In larger markets, the typical home also spent seven days less on the market compared to last year.

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