Rise in median home prices caused by REO sales
Median price by state
Percentage increase by state
|State Name||Actual Median Price||Median selling price change after removing REO sales|
|District of Columbia||$529,853||1.91%|
|South Dakota||No Data||No Data|
|Vermont||No Data||No Data%|
Real estate-owned (REO) property, or property owned by a lender after an unsuccessful foreclosure auction, had the greatest increase on median home prices in Connecticut and New Jersey at the end of 2018.1 In November 2018, REO properties affected New Jersey prices by 8.94% and Connecticut by 6.60%. Both were in the top three states affected by REO in September 2018.
REO inventory had the least impact in Western states. The influence on median prices was lower than 1% in Colorado, Idaho, Utah and Washington.
1 Source data: CoreLogic®
Data date: 2/21/2019
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