USA Today (US) title Can you spot the signs of the hot market?
article The market is heating up, and real estate investors are taking advantage.
Investors have started to sell their homes in anticipation of a rebound in housing prices.
The U.S. Census Bureau reported Wednesday that the median home price in July was $302,700, the most recent data available.
The median sales price in June was $315,200, according to the U.K. Office for National Statistics.
Real estate investment company Zillow said the housing market was the best it’s been in years in its survey of all U.s. cities and towns.
In New York, the median sale price was $4.7 million, up more than 6% from a year ago.
Zillow also found that the average home sale price in the nation’s cities and town centers rose by 6.7% last year, from $245,200 to $255,400.
It said that trend is likely to continue in the months ahead.
But Zillows data also showed that the price of homes in suburban areas fell by 4.5% from July 2015 to July 2016.
The rise in home prices in July could make it harder for some people to find a home.
The Associated Press reported Wednesday, however, that prices are still relatively low.
The AP reported that home sales dropped in March, the second straight month they have fallen, but were still up 2.5%.