People have short memories.  When something negative happens, we tend to react in predictable ways.  We deny long before we accept. 

The Pennsylvania Association of Realtors reports that the median existing home sales price of homes sold dropped 11% from the previous month to $193,792 in December, which is nearly the same as it was a year ago. 

Home sales in the Lehigh Valley decreased in December over the same month in 2021 and those that sold stayed on the market longer. 

According to the Pennsylvania Association of Realtors, the median home sales price in November was $216,386. That’s up nearly 14% from November of last year and is up about 4% from the month prior, when the median price was $210,132. 

It’s getting a little more expensive to buy a house in Pennsylvania, depending on what you compare it to. 

Higher interest rates and limited inventory continue to factor in the cooling of the housing market in Pennsylvania, like many other areas of the country.

The residential real estate market continues to slow, and the Greater Lehigh Valley Realtors is saying rising consumer prices and higher mortgage interest rates are contributing to the cooling market. 

The Pennsylvania Association of Realtors said August home sales dropped 4.7% from July, the first over month drop since February. 

The Greater Lehigh Valley Realtors said its August data showed a steady housing market in the Lehigh Valley as housing affordability hits 33-year low and existing-home sales continue to soften. 

Across the country, existing-home sales in June fell for the fifth consecutive month to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors reported Wednesday.