The United States has been on a slow-growth trajectory since the financial crisis and is set to have a modest rebound starting in 2019, according to a new report.
The U.S. home buying market has grown faster than the nation’s overall economy since 2011, according the U.K.-based Centre for Economics and Business Research (CEBR), which tracks U.R.
But it is likely to slow further, with a slowing of more than 9% in 2019 and another 4.4% in 2020, it said in a report released Tuesday.
“The U.B.C. and BLS (Bureau of Labor Statistics) data indicate that the pace of home buying in the U!s has slowed sharply since the recession,” the report said.
The median price for a home in all 50 states and the District of Columbia is $1.45 million, according, according data from CoreLogic.
But the median price is more than $100,000 in some states, and the median home price in Los Angeles County, California, is $2.5 million, the report found.
Most of the new listings have been in new and renovated properties.
In 2019, the median value of a home was $1,749,000, according CEPBR, up 3% from the previous year.
According to CEPB, the average price of a U.T.C.-listed home is $844,000.
Overall, the national home price is expected to be $1 trillion, according CoreLogics, which tracks home prices in more than 80 countries.