The Second Quarter of 2022 Saw Double-Digit Gains in Four Out of Five Metro Areas

  • The median single-family existing-home sales price increased by double digits in 148 of 185 metro markets (70% in the previous quarter).
  • A national median existing-home price of $413,500 broke the $400,000 barrier for the first time, an increase of 14.2% annually.
  • Since the first quarter of this year, housing affordability has significantly reduced as monthly mortgage payments on a typical existing single-family home with a 20% down payment have skyrocketed by a third.

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