Pennsylvania home sales were on the upswing in July while home prices recorded a mild decline.
According to new data from the Pennsylvania Association of Realtors (PAR), 11,575 homes were sold last month in the Keystone State, up 9.6% year-over-year. Buyers had a slightly wider selection of properties to choose from, with nearly 38,000 listings – an uptick of less than 1% from July 2023.
The median home sales price decreased less than 2% to $307,750 compared to $312,000 in June. However, the price was up by 7% from one year earlier.
“We’re starting to see a slight reduction in mortgage rates, which should be helpful to those entering the market,” said PAR Incoming President Bill Lublin. “Prices have continued to increase or remain steady throughout the first half of the year and prices are up about 7% from the same time last year.”
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