Home prices are increasing rapidly in the Midwest, with Milwaukee, Detroit, and Cleveland seeing significant median home-sale price rises. In contrast, Texas and Florida experienced the largest price declines due to higher supply. Nationwide, median home prices rose 3% year-over-year to about $425,000, while pending sales fell over 6%, the largest drop since September 2023. The typical home was on the market for 54 days in February, the longest period since 2020. Economists expect a market rebound as spring approaches.
Continue to full article
