On September 21, 2023, National Association of Realtors® (NAR) reported that a median home value price was $407,100 in August of 2023 rose 3.9% from the price of $391,700 in August of 2022.
Single family home sales were at annual rate of 3.60 million units in August of 2023 declined 1.4% from the annual rate of 3.65 million home sales in July of 2023, and fell 15.3% from home sales in August of 2022. The median single family home price was $413,500 in August of 2023, increased 3.7% from August of 2022.
Condominium and co-op sales were at an annual rate of 440,000 units in August of 2023 higher 4.8% from July of 2023, but dropped 15.4% from August of 2022. Median existing condo price was $354,600 in August of 2023, gained 6.2% from $333,900 in August of 2022.
Distressed homes sales were 1.0% in August of 2023 same as from 1.0% in July of 2023, and unchanged from 1.0% in August of 2022.
Lawrence Yun, NAR chief economist, stated "Mortgage rate changes will have a big impact over the short run, while job gains will have a steady, positive impact over the long run. The South had a lighter decline in sales from a year ago due to greater regional job growth since coming out of the pandemic lockdown."
For more complete information, on NAR's August 2023 home sales stats, please click HERE
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