If you were holding your breath, worried that the COVID-19 pandemic was going to drive down home prices, it looks like you can officially exhale. As we continue to move out of the height of the pandemic (and the accompanying restrictions), home prices are stronger than ever.
According to data outlined in a recent realtor.com article, the national median listing price in the United States hit $330,000 in May—the highest listing price on record, with 35 of the largest 50 metros in the US showing increases in listing price year-over-year.
“May’s home price data demonstrate the underlying strength of the U.S. housing market despite the challenges brought by the COVID-19 pandemic,” realtor.com’s Chief Economist Danielle Hale said in the article. “The fact that home prices are at an all-time high shows that the momentum the market had prior to the pandemic has helped to keep buyer and seller expectations stable.”
So, what does that mean for you? If you’ve been thinking about selling your home, now is a great time to make a move, when listing prices are high—and you can fetch top dollar for your property.