US prices rise but start to flatten out

2 November 2020 | General

Rapidly rising house price growth across the US has started to stabilise, Zillow’s weekly market report has found.

The median sale price was $288,225 in the week ending September 12, up 11.4% since 2019 and 0.2% week over week.

Cities where properties sold for far more than last year include Memphis, TN (19.9%), Buffalo, NY (16.7%) and San Francisco, CA (16.4%),

Houses are on the market for a median of 12 days before an offer is accepted, 17 days faster than last year.

A run of weekly list price increases that began in late April has finally flattened out, with median list prices standing at $346,080.

This post has originally been featured in Property Wire.