21 Jul '17, 9am

Time for another look at #USA property? Home values up 7% y-o-y in June #PropertyNews

The United States saw the median value of all homes increase by seven percent year-on-year in June to surpass US$200,000, reported CNBC citing a Zillow index. Data from the National Association of Realtors, on the other hand, showed that the median price of a home hovered at more than US$200,000 for over a year. But unlike Zillow’s index, which factored all homes in the US, the measure only considered homes sold. The sale price has increased not only because of the home’s inherent value but also because of the mix of residential units being sold. To date, more expensive homes are being sold due to the severe lack of low-priced starter homes on sale. Higher volume of high-end homes shifts the median higher. “When we train our models, we observe the sales that actually happen, and then we’re able to extrapolate that information to price every other home,” explained Zillow’s ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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