Aspiring homebuyers are turning to the internet to find out where they can buy a home, even if they have only limited experience with buying in the real world.
According to data compiled by the National Association of Realtors (NAR), the median price of a single-family home in the United States was $6,500 in March.
That’s up from $5,500 a year ago, but only by about $2,000 from a year earlier.NAR estimates that as of January 2018, about half of all Americans had no experience with selling a home.
That number is expected to continue rising.
“This is a trend that we see over time,” said NAR CEO Andrew Chamberlain.
“The more people know what they’re getting into, the less they will sell.”
The data shows a clear trend of increasing demand for homes in the middle of the market.
“We are seeing a huge surge in demand,” Chamberlain said.
“We’re seeing an influx of people who are really trying to get into the market.”
The surge in interest in the home market came on the heels of an influx in new single-person-home sales, which surged 30 percent in the first half of the year to an annual average of about 7,000 homes sold.
The number of homes sold in January was down from the same month a year before.
The median price per square foot of a new home sold in the second quarter of 2018 was $2.2 million, down from $3.5 million in the same period last year.
This is about three times the average annual price of $1.7 million for the same time period.
“The market is still very young, so there are still some bubbles and there are some opportunities,” Chamberlain told CNNMoney.
“It’s all about what people are willing to pay for.
The housing market is not overpriced, but there are a lot of bubbles in the market right now.”
Chamberlain said there is plenty of opportunity for new homebuyners to enter the market, but that they need to have the money to be able to do so.
“It’s about getting the money,” he said.
“If you have a good credit score, and you’re looking to buy a property, then you can afford to pay a lot more than the average person is willing to.”
But the number of new home sales has slowed in the last few months.
The average annual sales price for single-unit properties in January rose by $1,700 to $3,300.
But the price of single-home homes that sold rose by an average of $4,300 to $8,700.
The number of houses that sold dropped by about 1 percent to 6,000 units in the month.
That was the biggest drop in the past 12 months, according to NAR.
The trend is likely due to a lack of supply in the country.
In February, the NAR reported that fewer than a quarter of new homes were being built.
The average number of completed single-bedroom homes was down 3 percent from January to February, but the number that sold was up 1 percent.
The NAR estimates the total number of housing units in America rose by 1.2 percent to 2.8 million in February.
That is the largest increase in more than two years.