July 19th, 2019
As we all know, we’ve been riding a very up-and-down market the past couple of years. However, one peak we recently hit is the median home price, which reached its all-time highest point in Q2 at $266,000 according to ATTOM Data Solutions. This is a staggering 10.8% higher than Q1 of this year and tops the median from a year ago by 6.4%. This has been a trend for the past 14 years with the second quarter consistently showing a quarterly increase in median home values. Todd Teta, ATTOM’s chief product officer, had this to say about the recent report: “As warmer weather brings a rush of house hunters to the market, the latest spike in median home prices marked the largest quarterly increase since the second quarter of 2015 and the third biggest increase since the market started climbing out of the Great Recession in 2012.” However, Teta goes on to say that the outlooks for Q3 and Q4 show a cooling of home values.