Home prices hit new peak in ‘extremely competitive buying season’

The housing market saw a series of ups and downs in Q2 2017, the majority of which were largely driven by low inventory unable to meet the demand of would-be buyers. This imbalance drove home prices to rise 6.2 percent, easily eclipsing the previous Q3 2016 peak of $241,300. The Q2 median single-family home price was $255,600, a 6.2 percent year-over-year and 6.9 percent quarter-over-quarter increase …

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