Meanwhile, the median single-family home price reached $610,000, the first time it exceeded $600,000 this year.

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

Meanwhile, existing home sales dropped as days on market increased.

Living in some of the country’s top cities can get pretty expensive, and Boston is no different.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

Amy Wallick, 2023 MAR president and realtor at Lamacchia Realty says while low inventory continues to create challenges for buyers, she encourages homeowners to consider entering the market. 

CoreLogic expects prices to continue to grow through the year.

RentCafe analyzed apartment sizes in ZIP codes across the country to determine which areas give the typical renter the most bang for their buck.

The only region of the U.S. that didn’t experience an annual decline in existing home sales was the Midwest, where sales were unchanged year over year.

The median price of a new home sold during the month fell to $418,800 from $433,100 in August, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.