What the numbers show is that home prices are continuing to chug along on much the same path as they’ve been on for the past five years. Through the end of August, the number of homes sold was up 7.5% while homes on average spent 11 fewer days on the market. New listings held pretty even, but what is most dramatic is the median price, which rose almost 12 percent.
That’s in line with the numbers we crunched in the House Price Calculator. Your mileage may vary, but if you paid $100,000 in the second quarter of 2018 that would have risen to $112,454 (11.24%), based on market-wide sales averages.
Looking back, a home bought in 2014 would have appreciated in value about the same about every year. It’s a hot market with tight inventory, which means you might want to consult a real estate professional if you've got an itch.
