July 2022- State of the Market

New market data shows median home price falls for the first time in six months as inventory spikes for the third straight month.

By the #s:

Median Price: $381,000 up 19%.
Sales: 3,909 down 21%.
New Listings: 4,746 up 1%.
Average Interest Rate: 5.4%.

*(Disclaimer) All reports are completed at the month’s end*

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NAR Study: International Buyers Are Back

WASHINGTON – Foreign buyers purchased $59 billion worth of U.S. existing homes over a one-year period (April 2021 through March 2022) – an 8.5% increase from the previous 12-month period and the end of a pandemic-led, three-year skid.

The 98,600 existing homes sold – the lowest since NAR tracking began in 2009 – were down 7.9% year-to-year.

Overall, however, Florida led the nation in welcoming foreign investment as one in four international buyers (24%) selected property in the Sunshine State.

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