The number of homes selling above list price dropped to a three-year low. Slightly less than one-in-five transactions hit that threshold in December.
In the second half of 2018, the number of homes selling above list price drastically retreated, according to new data from Zillow as reported by HousingWire. December marked the seventh month in a row the percentage of homes selling above list price dropped.
HousingWire reports Zillow attributes December’s decline to several factors including inventory improvements and increasing mortgage rates.
Zillow makes note, the article says, that national trends don’t always directly represent separate metropolitan data. This is because homes are selling above list price at higher frequencies in some metro areas.