First-Time Home Buyers Drops To New Lowsxios Visuals

New Home buyers

According to Axios:

Why it matters: Fewer new buyers are opting into America’s competitive housing market that’s pushed prices to historic levels, economists say.

  • “A number of potential buyers have merely paused their search, but their desire and need for a home remain,” NAR’s Lawrence Yun said in a statement. 

What’s happening: The median price of an existing home sold last month hit $356,700, though the pace of rising prices is slowing.

  • August marked the 114th month of straight year-over-year gains at 14.9%, down from almost 18% last month.

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