{"id":18970,"date":"2021-06-07T11:23:56","date_gmt":"2021-06-07T11:23:56","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18970"},"modified":"2021-06-07T11:23:56","modified_gmt":"2021-06-07T11:23:56","slug":"surging-home-prices-are-set-for-a-cooldown","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/surging-home-prices-are-set-for-a-cooldown\/","title":{"rendered":"Surging Home Prices Are Set for a Cooldown"},"content":{"rendered":"

Surging Home Prices Are Set for a Cooldown<\/h1>\n
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The U.S. median home price continued to post double-digit appreciation in May and reached a record high of $380,000, realtor.com\u00ae reports. But the rate of price growth has shown signs of slowing for the second time in 13 months (15.2% year-over-year in May compared to 17.2% annually in April), realtor.com\u00ae\u2019s Monthly Housing Trends Report shows.<\/p>\n

Prices have been rising due to high buyer demand and a lack of inventory. Inventories are less than half the total number of homes for sale on the market compared to a year ago.<\/p>\n

\u201cHome buyers looking to lock in still-low mortgage rates face fierce competition for fewer homes for sale than last year\u2019s historic pandemic lows, pushing up the typical asking price in May to an all-time high for the fourth consecutive month,\u201d said Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cThe good news is that price momentum may be beginning to cool off.\u201d<\/p>\n

\u201cWhile still in double-digits, May was the first non-weather related slowing in price appreciation since April 2020,\u201d Hale added. \u201cAnd with a normal, summer seasonal peak in home prices expected this year, we could see growth fall back to a more normal single-digit pace in the fall.\u201d<\/p>\n

Larger metros may post a slowdown sooner than other markets. The largest metros, for example, reported lower annual price gains than the national rate and also had some of the largest numbers of new homes added to the market, realtor.com\u00ae reported. The nation\u2019s 50 largest metros had a 12.4% increase in new listings compared to a year ago. The largest gains were in Buffalo, N.Y. (up 64.3%); Philadelphia (up 52.5%); and Washington, D.C. (up 48.9%).<\/p>\n

Overall, among the 50 largest U.S. metros, the largest list price increases in May occurred in Austin, Texas (+32.2%); Riverside, Calif. (+21.5%); and Las Vegas (+18.5%).<\/p>\n

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realtor.com\u00ae<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Surging Home Prices Are Set for a Cooldown The U.S. median home price continued to post double-digit appreciation in May and reached a record high of $380,000, realtor.com\u00ae reports. But the rate of price growth has shown signs of slowing for the second time in 13 months (15.2% year-over-year in May compared to 17.2% annually … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18970","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nSurging Home Prices Are Set for a Cooldown - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/surging-home-prices-are-set-for-a-cooldown\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Surging Home Prices Are Set for a Cooldown\",\"datePublished\":\"2021-06-07T11:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/\"},\"wordCount\":323,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/6.3.2021_listprices_realtor.com_.png?itok=1N0mNlnc\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/surging-home-prices-are-set-for-a-cooldown\\\/\",\"name\":\"Surging Home Prices Are Set for a Cooldown - 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