realestate

Mortgage rate cuts impact state real estate market

Pennsylvania median home price hit $319,250 in August, up 6.4% YoY, with rising listings and stable market.

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ennsylvania’s median home price climbed 6.4% in August, reaching $319,250 compared with $300,000 a year earlier, according to the Pennsylvania Association of Realtors. The figure is essentially unchanged from July. Bill Lublin, PAR president, noted that Fed rate moves directly impact mortgage costs, so even small changes can alter a buyer’s monthly payment and affect affordability. Inventory is easing: listings rose 7% YoY to 41,497, though they fell 2% from July to August. The 7% YoY rise in listings reflects a gradual easing of inventory concerns. Sales held steady at 11,470 units. Year‑over‑year sales remained flat at 11,470 units, underscoring the market’s resilience. Lublin said the steadiness in price and supply gives buyers and sellers confidence to act.

Mortgage rate cuts boost state real estate market activity.