Medium Single-Family Home Prices
Last year on 9/11/13, I posted a chart showing prices had surged over 20% then I wrote, "Over the past six months, the median price for a single-family home has shot up at the fastest pace on record. Warning, surges over 10% are "often" followed by stagnation or falling prices." Sure enough, that was the peak and prices are down about 10% to where Chartoftheday has now drawn a lower support channel. It is too bad they didn't update their rate of change lower graph but you can see in the old article that -10% is an historically large decline.
Yesterday Chartoftheday.com1 wrote:
For some perspective on the all-important US real estate market, today's chart illustrates the inflation-adjusted median price of a single-family home in the United States over the past 44 years. There are a few points of interest. Not only did housing prices increase at a rapid rate from 1991 to 2005, the rate at which housing prices increased -- increased. All those gains and then some were given back during the following 6.5 years. Over the past two years, however, the median price of a single-family home has trended significantly higher. More recently, the inflation-adjusted price of the median single-family home has declined and is now testing support of its two-year upward sloping trend channel.
30-Year Conventional Mortgage Rates | 30-Year FHA Mortgage Rates |
Note 1. Source: Chart of the Day