by BoatSurfer600
The housing data we’re seeing today – sales that closed in May – are still coming out of spring selling season when prices and sales always rise. This seasonal uptick happened even during Housing Bust 1.
The median price of all types of previously owned homes – houses, condos, and co-ops – whose sales closed in May fell year-over-year by 3.1% to $396,100, the fourth month in a row of year-over-year declines, and the largest since December 2011 during Housing Bust 1, according to the National Association of Realtors today.
For single-family houses, the median price fell 3.4% year-over-year, the fourth decline in a row, to $401,100. For condos, the median price ticked down year-over-year by a hair for the first time since lockdown May 2020, to $353,000 (historic data via YCharts).
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