Housing Market Starts to Cool

The video discusses the cooling of the housing market, with existing home sales priced at a median of $358,000 in August, down from nearly $400,000 in June. First-time buyers constitute less than a third of sales, a decrease from the previous year. Additionally, new homes are selling faster, spending about 17 days on the market.

What trend is the real estate market currently experiencing?

• A significant increase

• A slight cooling

• A rapid decline

• No change

What was the median price of existing home sales in August?

• $400,000

• $450,000

• $358,000

• $300,000

How does the current percentage of first-time buyers compare to last year?

• It has increased

• It is not mentioned

• It has decreased

• It has remained the same

How long are new homes typically on the market before being sold?

• 5 days

• 30 days

• 17 days

• 10 days

What is the significance of the two-week mark in the context of new home sales?

• Homes are typically renovated after this time

• Homes are listed for a discount after this time

• Homes are usually sold before this time

• Homes are withdrawn from the market after this time