Apartment rents might finally be falling, but single-family homes sales aren't – at least not when measured year-over-year.
A report by the National Association of Realtors (NAR) last week showed that single-family existing-home sales prices grew in nearly every measured metro area – 181 of 185 – in the third quarter.
Compared to a year ago, the national median single-family existing-home price rose 8.6% to $398,500. The monthly mortgage payment on a typical existing single-family home with a 20% down payment was $1,840 – up 50% year-over-year, Redfin reported.
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