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Zillow Reports Market Continued to Stabilize in July

August 22, 2019 | Reprints | Unlock Link | Print

The national housing market is approaching stability as inventory slowly rises, according to Zillow’s newly released July Market Report.

The pace of home value growth slowed for the seventh straight month, the site reported, as market “continues to normalize” and reaches for balance between buyers and sellers after years of strong seller’s market.

The median U.S. home is now worth $229,000, up 5.2 percent from this time last year. The median home in Hartford is also worth $229,000 according to Zillow, with no change from July 2018.

Nationwide, for-sale inventory grew 1.3 percent year-over-year, and new listings were up 5.7 percent from a year ago. There was no change in the number of listings in Hartford, which clocked 6,000 in both July 2018 and July 2019.