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| Daren Blomquist |
IRVINE, CA — ATTOM Data
Solutions, curator of the nation’s premier property
database, released its Q2 2018 U.S. Home Sales Report, which shows that
U.S. single family homes and condos sold for a median price of $255,000 in the
second quarter, up 6.3 percent from a year ago to a new all-time high but the
slowest annual appreciation since Q2 2016.
“Annual home price appreciation nationwide has now slowed for five
consecutive quarters following a post-election spike to double-digit
appreciation in the first quarter of 2017,” said Daren Blomquist, senior vice
president at ATTOM Data Solutions.
“Although home sellers are still in the
driver’s seat of this housing market, moderating home price appreciation is
good news for prospective homebuyers and signals that rising mortgage rates and
other housing headwinds are cooling red-hot home price appreciation in some
areas.”
Annual home price appreciation in Q2 2018 decelerated from the
previous quarter in 80 of the 122 metros (66 percent) analyzed for median home
prices, including Los Angeles, Chicago, Dallas-Fort Worth, Houston and
Philadelphia.
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| Matthew Gardner |
“Home prices in the greater Seattle region continue to grow at well above long-term averages for several reasons,” said Matthew Gardner, chief economist with Windermere Real Estate, covering the Seattle market.
“Firstly, the area’s booming economy continues to add jobs, driving up demand for housing. Compounding this demand is a lack of new construction housing, which puts substantial upward pressure on home prices in the resale market.
"Housing affordability is unquestionably a major issue in Seattle; however, ironically enough, the many California buyers relocating to the Seattle area actually think our home prices are a bargain!”
For
more information, please contact:
Christine Stricker
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Sr. Marketing Manager, Projects
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Mobile: 714.873.4275
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