HAR Report: Based on declining average monthly 30-year fixed-rate conventional mortgage rates as reported by Freddy Mac, when combined with the slip in median price, monthly principal and interest payments (P&I) necessary to buy the median priced home (assuming 20 percent down) totaled $1,627.77. Thus, the typical September P&I payment was $143.87, $180.05, $120.60, and $82.07 less than May, June, July and August this year, respectively.
The median home price declined 2.1 percent to $327,000, while the average price rose 2.0 percent to $421,655. The average price per square foot was $175, slightly below the $177 recorded in September 2024. The average list-to-sale price ratio edged down to 93.0 percent, which is the lowest since January 2023.