EMERYVILLE, CA and SEATTLE-Home prices continued to rise in the 30-day period ended June 15, while the rate on the 30-year fixed mortgage rate average has reached the second highest level in two years.
ZipRealty of Emeryville, says its latest research indicates that both prices and the number of listings rose between mid-May and mid-June, its most recent study period.
“With the recent jump in mortgage rates, on top of steady home price increases over the past several quarters, there are good reasons to anticipate some cooling off in the housing market; however it was difficult to detect any clear signs of that change in trend as of mid-June,” says ZipRealty CEO and president Lanny Baker. “From May 17 to June 15, the median sales price of nearly $276,000 in the metros we analyzed was $5,000 higher than just two weeks earlier, and 15.8% higher than in the same period of 2012.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
