- Home Sales Have Increased Across Pennsylvania
Statewide housing data is looking positive in Pennsylvania, continuing the trend seen earlier this year. Pennsylvania’s housing market has seen an increase in pending sales in the third quarter, up 16 percent over the third quarter in 2011. Inventory levels shrank 11 percent from the same time last year.
Home prices continue to remain stable. The median sales price increased .01 % to $180,000 in the third quarter while days on market was down 6 percent to 92 days from third quarter 2011.
“While all real estate is local, the indicators show that overall the market is recovering slowly in Pennsylvania,” said PAR President Frank Jacovini.
Housing affordability is up 5.8% this quarter over last year this time. The index is 182. An index of 120 means the median household income is 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Wallingford Real Estate – Wallingford, PA 19086
