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During the first week of October, the U.S. median home price remained near its summer peak of $350,000 and hit record-high growth of 12.9% over last year, showing no signs of the usual fall cool down, according to realtor.com®‘s Weekly Housing Report for the week ending Oct. 3. The decline in the number of homes on the market improved slightly this week, which may be evidence of high prices enticing more sellers to stay in the market.
“While buyers would normally begin to hunker down this time of year, we expect to see an unusually high number remain in the market this fall,” said Danielle Hale, chief economist at realtor.com®. “This gives sellers a rare opportunity to get top dollar for their home outside of the prime selling season, which may be motivating some to stay in the market. However, even with record breaking prices, we’re not seeing sellers rush into the market with the same eagerness as buyers. Looking forward, a key question is whether this frenzied demand will continue into the spring or if we’ll see more balance between home buyers and sellers.”
Home prices show no signs of coming down anytime soon
The decline in the number of homes on the market improves slightly over last week
Homes are selling nearly two weeks faster than last year
Overall health of the housing market holds steady entering October
|
Metro |
Median Listing Price YoY |
Total Listings YoY |
Median Days on Market YoY |
|
Akron, Ohio |
9.1% |
-53.2% |
10 days faster |
|
Albany-Schenectady-Troy, N.Y. |
13.8% |
-44.1% |
15 days faster |
|
Albuquerque, N.M. |
12.5% |
-50.7% |
7 days faster |
|
Allentown-Bethlehem-Easton, Pa.-N.J. |
24.5% |
-56.7% |
40 days faster |
|
Atlanta-Sandy Springs-Roswell, Ga. |
9.9% |
-46.1% |
10 days faster |
|
Augusta-Richmond County, Ga.-S.C. |
7.6% |
-47.7% |
19 days faster |
|
Austin-Round Rock, Texas |
14.7% |
-46.9% |
12 days faster |
|
Bakersfield, Calif. |
18.9% |
-46.2% |
13 days faster |
|
Baltimore-Columbia-Towson, Md. |
7.4% |
-50.0% |
11 days faster |
|
Baton Rouge, La. |
13.9% |
-36.4% |
2 days faster |
|
Birmingham-Hoover, Ala. |
6.0% |
-36.3% |
14 days faster |
|
Boise City, Idaho |
15.3% |
-70.1% |
1 day slower |
|
Boston-Cambridge-Newton, Mass.-N.H. |
18.4% |
-30.6% |
19 days faster |
|
Bridgeport-Stamford-Norwalk, Conn. |
2.3% |
-24.9% |
44 days faster |
|
Buffalo-Cheektowaga-Niagara Falls, N.Y. |
8.6% |
-45.0% |
1 day slower |
|
Cape Coral-Fort Myers, Fla. |
12.3% |
-35.3% |
18 days faster |
|
Charleston-North Charleston, S.C. |
14.4% |
-42.2% |
22 days faster |
|
Charlotte-Concord-Gastonia, N.C.-S.C. |
8.4% |
-48.3% |
14 days faster |
|
Chattanooga, Tenn.-Ga. |
11.9% |
-50.6% |
13 days faster |
|
Chicago-Naperville-Elgin, Ill.-Ind.-Wis. |
8.5% |
-33.0% |
7 days faster |
|
Cincinnati, Ohio-Ky.-Ind. |
18.5% |
-46.4% |
9 days faster |
|
Cleveland-Elyria, Ohio |
2.6% |
-48.7% |
15 days faster |
|
Colorado Springs, Colo. |
3.4% |
-50.8% |
12 days faster |
|
Columbia, S.C. |
8.5% |
-47.0% |
19 days faster |
|
Columbus, Ohio |
6.0% |
-46.8% |
14 days faster |
|
Dallas-Fort Worth-Arlington, Texas |
4.2% |
-45.8% |
8 days faster |
|
Dayton, Ohio |
17.7% |
-45.5% |
11 days faster |
|
Deltona-Daytona Beach-Ormond Beach, Fla. |
4.0% |
-43.4% |
20 days faster |
|
Denver-Aurora-Lakewood, Colo. |
3.7% |
-41.8% |
7 days faster |
|
Des Moines-West Des Moines, Iowa |
3.6% |
-37.4% |
8 days faster |
|
Detroit-Warren-Dearborn, Mich |
12.0% |
-46.7% |
8 days faster |
|
Durham-Chapel Hill, N.C. |
18.4% |
-46.6% |
7 days faster |
|
El Paso, Texas |
15.2% |
-44.7% |
18 days faster |
|
Fresno, Calif. |
7.0% |
-55.4% |
23 days faster |
|
Grand Rapids-Wyoming, Mich |
9.1% |
-50.4% |
3 days slower |
|
Greensboro-High Point, N.C. |
9.7% |
-48.9% |
14 days faster |
|
Greenville-Anderson-Mauldin, S.C. |
4.1% |
-40.7% |
6 days faster |
|
Harrisburg-Carlisle, Pa. |
14.1% |
-50.6% |
7 days faster |
|
Hartford-West Hartford-East Hartford, Conn. |
7.1% |
-32.0% |
21 days faster |
|
Houston-The Woodlands-Sugar Land, Texas |
6.5% |
-32.0% |
10 days faster |
|
Indianapolis-Carmel-Anderson, Ind. |
12.2% |
-47.2% |
11 days faster |
|
Jackson, Miss. |
18.5% |
-46.2% |
20 days faster |
|
Jacksonville, Fla. |
3.6% |
-44.8% |
13 days faster |
|
Kansas City, Mo.-Kan. |
11.9% |
-48.2% |
7 days faster |
|
Knoxville, Tenn. |
18.5% |
-54.9% |
11 days faster |
|
Lakeland-Winter Haven, Fla. |
7.8% |
-32.5% |
1 day faster |
|
Las Vegas-Henderson-Paradise, Nev. |
8.6% |
-7.5% |
8 days faster |
|
Little Rock-North Little Rock-Conway, Ark. |
22.6% |
-49.6% |
20 days faster |
|
Los Angeles-Long Beach-Anaheim, Calif. |
16.5% |
-24.8% |
5 days faster |
|
Louisville/Jefferson County, Ky.-Ind. |
4.0% |
-50.8% |
11 days faster |
|
Madison, Wis. |
1.5% |
-43.4% |
10 days faster |
|
McAllen-Edinburg-Mission, Texas |
16.6% |
-47.1% |
24 days faster |
|
Memphis, Tenn.-Miss.-Ark. |
20.0% |
-49.2% |
11 days faster |
|
Miami-Fort Lauderdale-West Palm Beach, Fla. |
2.5% |
-15.3% |
3 days faster |
|
Milwaukee-Waukesha-West Allis, Wis. |
9.1% |
-41.1% |
7 days faster |
|
Minneapolis-St. Paul-Bloomington, Minn.-Wis. |
4.5% |
-30.5% |
7 days faster |
|
Nashville-Davidson–Murfreesboro–Franklin, Tenn. |
8.1% |
-41.6% |
6 days faster |
|
New Haven-Milford, Conn. |
7.6% |
-23.0% |
28 days faster |
|
New Orleans-Metairie, La. |
18.2% |
-39.0% |
7 days faster |
|
New York-Newark-Jersey City, N.Y.-N.J.-Pa. |
16.2% |
-3.4% |
10 days faster |
|
North Port-Sarasota-Bradenton, Fla. |
3.0% |
-33.5% |
21 days faster |
|
Oklahoma City, Okla. |
7.8% |
-39.4% |
7 days faster |
|
Omaha-Council Bluffs, Neb.-Iowa |
5.5% |
-47.0% |
8 days slower |
|
Orlando-Kissimmee-Sanford, Fla. |
1.9% |
-21.1% |
5 days faster |
|
Oxnard-Thousand Oaks-Ventura, Calif. |
7.7% |
-41.1% |
23 days faster |
|
Palm Bay-Melbourne-Titusville, Fla. |
7.0% |
-41.1% |
7 days faster |
|
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. |
16.7% |
-39.7% |
15 days faster |
|
Phoenix-Mesa-Scottsdale, Ariz. |
6.8% |
-40.4% |
7 days faster |
|
Pittsburgh, Pa. |
25.0% |
-36.2% |
8 days faster |
|
Portland-South Portland, Maine |
12.8% |
-48.9% |
32 days faster |
|
Portland-Vancouver-Hillsboro, Ore.-Wash. |
6.4% |
-43.5% |
4 days faster |
|
Providence-Warwick, R.I.-Mass. |
6.9% |
-52.9% |
11 days faster |
|
Raleigh, N.C. |
5.4% |
-45.1% |
11 days faster |
|
Richmond, Va. |
8.0% |
-44.8% |
7 days faster |
|
Riverside-San Bernardino-Ontario, Calif. |
13.7% |
-54.0% |
12 days faster |
|
Rochester, N.Y. |
9.3% |
-42.2% |
14 days faster |
|
Sacramento–Roseville–Arden-Arcade, Calif. |
10.6% |
-50.5% |
14 days faster |
|
Salt Lake City, Utah |
15.1% |
-51.6% |
4 days faster |
|
San Antonio-New Braunfels, Texas |
3.5% |
-40.3% |
9 days faster |
|
San Diego-Carlsbad, Calif. |
11.8% |
-26.2% |
34 days faster |
|
San Francisco-Oakland-Hayward, Calif. |
11.7% |
-5.9% |
4 days slower |
|
San Jose-Sunnyvale-Santa Clara, Calif. |
6.8% |
-23.2% |
7 days faster |
|
Scranton–Wilkes-Barre–Hazleton, Pa. |
22.6% |
-54.4% |
28 days faster |
|
Seattle-Tacoma-Bellevue, Wash. |
5.9% |
-31.5% |
8 days faster |
|
Spokane-Spokane Valley, Wash. |
10.2% |
-49.1% |
8 days faster |
|
Springfield, Mass. |
27.0% |
-45.0% |
25 days faster |
|
St. Louis, Mo.-Ill. |
10.2% |
-38.0% |
8 days faster |
|
Stockton-Lodi, Calif. |
7.9% |
-62.7% |
5 days faster |
|
Syracuse, N.Y. |
8.9% |
-42.0% |
3 days faster |
|
Tampa-St. Petersburg-Clearwater, Fla. |
9.0% |
-44.0% |
10 days faster |
|
Toledo, Ohio |
16.9% |
-40.1% |
8 days faster |
|
Tucson, Ariz. |
8.3% |
-42.7% |
7 days faster |
|
Tulsa, Okla. |
12.3% |
-41.9% |
11 days faster |
|
Urban Honolulu, Hawaii |
-11.1% |
25.4% |
4 days slower |
|
Virginia Beach-Norfolk-Newport News, Va.-N.C. |
8.5% |
-47.6% |
22 days faster |
|
Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. |
8.2% |
-35.4% |
8 days faster |
|
Wichita, Kan. |
10.6% |
-44.8% |
11 days faster |
|
Winston-Salem, N.C. |
8.5% |
-48.3% |
16 days faster |
|
Worcester, Mass.-Conn. |
11.6% |
-54.4% |
26 days faster |
|
Youngstown-Warren-Boardman, Ohio-Pa. |
7.2% |
-56.4% |
16 days faster |
Contact: Cody Horvat, cody.horvat@realtor.com
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