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Redfin Report: U.S. Home Prices Up 7% in December

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A record shortage of homes for sale drove prices up on a monthly and annual basis

SEATTLE, Jan. 17, 2020 / / — (NASDAQ: RDFN) — U.S. home-sale prices increased 6.9% year over year in December to a median of $312,500, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. Home prices were also up 1.1% month over month on a seasonally-adjusted basis, the largest increase since February 2018. […]

Seasonally-adjusted new listings in December fell the most from a year earlier in Salt Lake City (-50.4%), followed by Allentown, PA (-39.3%) and Kansas City, MO (-38.9%). Homes sold in December spent two fewer days on market compared to the prior year. In December, the typical home went under contract in 50 days, compared to 52 days in December 2018. […]

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