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Zillow Reports Market Continued to Stabilize in July

Aug 22, 2019 | Reprints | Unlock Link

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The national housing market is approaching stability as inventory slowly rises, according to Zillow’s newly released July Market Report.

The pace of home value growth slowed for the seventh straight month, the site reported, as market “continues to normalize” and reaches for balance between buyers and sellers after years of strong seller’s market.

The median U.S. home is now worth $229,000, up 5.2 percent from this time last year. The median home in Boston is now worth $463,000 according to Zillow, down slightly from a peak of $470,000 earlier this year and up about 8 percent from July 2018.

Nationwide, for-sale inventory grew 1.3 percent year-over-year, and new listings were up 5.7 percent from a year ago. In Boston listings were up 7.7 percent from July 2018 to 14,000 last month.

B&T Daily