With affordable homes already in short supply around the U.S., house-hunters this spring faced another challenge: surging prices. Median home prices in the second quarter surged to a record high $266,000 for single family-homes and condos, according to a recent report from property research firm ATTOM Data Solutions. That's up 6% from about $250,000 a year ago. — CBS News
"U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018," states the July ATTOM report.
The locations with the highest average home seller returns in Q2 2019 don't come as much of a surprise: San Jose, California (85.0 percent); San Francisco, California (71.6 percent); Seattle, Washington (65.6 percent); Salem, Oregon (62.3 percent); and Salt Lake City, Utah (60.7 percent).
The number of existing-home sales dropped 1.7% in June, according to recent numbers from the National Association of Realtors.
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