Prices Keep Rising As Home Sales Fall
The mounting evidence that home sales are slumping in the Washington area has been attracting attention. Inventories of homes for sale are up across the region, houses are sitting on the market longer, and buyers are more sparse at open houses.
But according to newly released data from the National Association of Realtors, the prices paid for houses in the area kept rising in the third quarter. Among existing single-family homes that changed hands in the three months ended in September, the median sale price was $441,400, a record. That's up from $349,400 a year earlier, a 26 percent increase, and up from $429,200 in the second quarter of the year.
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But according to newly released data from the National Association of Realtors, the prices paid for houses in the area kept rising in the third quarter. Among existing single-family homes that changed hands in the three months ended in September, the median sale price was $441,400, a record. That's up from $349,400 a year earlier, a 26 percent increase, and up from $429,200 in the second quarter of the year.
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