Homes are being listed for sale at record prices according to a new report. Realtor.com reported last week that the median list price in the U.S. reached $310,000 in April. This is a record high, beating the previous record reached in March.
“The U.S. median listing price set another record this month, which we expect it to continue to do through the summer when prices typically hit their seasonal peak,” said Danielle Hale, Realtor.com’s chief economist. “Despite growing availability of total homes for sale, prices are rising in response to more high-end homes for sale.”
The majority of the price growth seen over the last few months has been focused in the upper tier of homes for sale. In San Diego, the median listing price was $692,550 as of last month, up one percent from last year.
Today, conforming no-point 30-year fixed mortgage rates are averaging 4.125 percent, 15-year rates are near 3.625 percent and the 5-year ARM is averaging 4.00 percent.
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