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LEMOYNE — For the first time since February, the median price of existing homes sold in Pennsylvania fell 4.7% month-over-month and 4.7% from July, according to a report produced for the Pennsylvania Real Estate Association. did.
The median resale home price for August was $209,794, up 5% year-on-year, but down from the July high of $219,154.
Existing home sales remained strong with 13,486 homes sold in August, up slightly from July and down about 15% year-on-year.
The number of listings in August was 40,809, down from 43,275 in the previous month, down 22.3% year-on-year.
PAR President Christopher Beadling said, “Pennsylvania existing home sales remain stable through 2022, but overall sales are down from last year, indicating a limited number of homes available for sale. It’s the main reason,” he said.
“Pennsylvania continues to see about three months worth of housing inventory, which is down 16% from last year.”
“Homebuyers face the challenge of rising mortgage rates, with prices up more than 5% over last year, but current mortgage rates are still very reasonable,” Beadling said. I’m here. “By working with real estate professionals, buyers can navigate the home-buying process and sellers can ensure their homes are priced appropriately for today’s market.”
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