Day: September 17, 2020

Home Prices Rose 11% in August—Biggest Gain in Over 6 Years

September 17, 2020 by

The housing market in August resembled a game of musical chairs, as high home prices and low mortgage rates began to draw more sellers to the market: New listings climbed 5%, fueling a 30% increase in pending sales.

The national median home price rose 11% year over year to $328,400 in August—the largest annual increase since February 2014. As has been the case for most of the summer, low mortgage rates drove homebuyer demand, but the supply of homes for sale has fallen to another new low.

“The supply of homes

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Gold Coast property: new unit market records decline in sales but sales rate is up

DESPITE recording a decline in sales, the Gold Coast new apartment market is showing resilience with a higher sale rate than 12 months ago.

The Urbis Gold Coast Apartment Essentials Insights revealed a decline in sales during the second quarter of 2020 – down from 265 during quarter one to 156.

While this is a lower result than the previous three quarters, the market recorded a higher sales rate than 12 months ago when 153 sales were recorded during quarter two of 2019.

An aerial view of the Surfers Paradise skyline.

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