Median Home Price See Slowest Appreciation Since 2016


According to the latest ATTOM Data Solutions U.S. Home Sales Report, single family homes & condos sold for a median price of $256k in Q3, up 1% from the previous quarter and up 4.8% from one year ago.  They note, however that this is the slowest pace of annual home price appreciation since early 2016 and blame it partly on overall home affordability.  Interestingly, the report noted that homeowners who sold in Q3 2018 owned their homes a record average of 8.23 years, up from an average of 7.97 years in Q2 2018 and up from 7.98 years in Q3 2017.

“The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability — which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

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