Value of owners’ household real estate was increased by 1.3 trillion in the last year, and 110 billion came from home price increases in July.
Survey respondents reported that buyer traffic conditions in August 2017 were stable to very strong compared to conditions one year ago in all states except Delaware.
Amid strong demand and tight supply, REALTORS® reported that properties that sold in June–August 2017 were typically on the market for less than 31 days in 29 states and in the District of Columbia.
The share of first-time buyers has been improving, although slowly, from less than 30% in 2013.
Millennials as a whole made a median of $38,800 in annual income in 2016 and have a median student loan debt of $41,200 in the same year.
The median sales price for a single family home sold in July in the US was $260,600 up 6.3 percent from a year ago.
Existing-home sales dropped 1.3% in July from one month prior while new home sales declined 9.4%.
The foot traffic volume index (SAAR) rose 3.4% in August relative to a month earlier, the second consecutive increase.
Staging a home before listing it for sale on the market could have a price increase of up to five or 10 percent.
REALTORS® reported that properties that sold in May–July 2017 were typically on the market for less than 31 days in 29 states and in the District of Columbia.
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