Redfin: Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent

National Mortgage Professional, Sept. 15, 2017–Phil Hall
Home prices in August were up 7.7 percent from one year earlier, the largest year-over-year price gain since May 2015, according to new data from Redfin. However, the national median sale price in August was $293,000, unchanged from July, while sales in August fell 5.5 percent compared to last year, the steepest decline posted since July 2016.