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Home Prices On The Rise

Nationally, median existing-home prices rose 13.5% this summer to $214,200. Thats 16 straight months now. The decline in sales of foreclosures account for some of the
increase in home prices. Foreclosures were sold for an average 16% discount, while shorts sales were discounted at about 13%.
Nationally, nearly half of all homes sold in June were on the market less than a month. In May it was about 41 days, and June, 31 days, which is 47% faster then the 70 days on the marked reported last year this time. These are national numbers and vary per region that you live.
As far as the “southern” region, the median home price is now 186,300, which is 13.7% above this time last year.

Author: Myrtle Beach Real Estate

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