Once again, the national median income needed to buy a house has headed in the wrong direction – up. The median in April climbed to $116,000 –$5,900 more than was needed in April 2023. The price includes the cost of tax and insurance.
The median listing price rose from $424,900 in March 2024 to $430,000 in April, the same as in April 2023. According to a Realtor.com report, there were 30.4% more active listings this April than last, with a 12.1% increase in new listings. Houses stayed on the market 47 days, one more day than last year, and there was a 3.2 percentage point boost in the share of active listings with price reductions.
The report singles out California as a state where all the different dynamics at work in the national housing market are playing out.
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