Home prices stable, rents going up

OK news for homeowners.

Not so OK news for renters.

The median price of a home in The City was stable in August, albeit weak, according to the Controller’s Office. The median price was $635,000, a 17.5 percent drop from the previous year.

“July and August brought continuing signs of stability in residential real estate, as median prices have stayed within 5 percent of each other since March,” the city controller said in a statement.

As for renting a place in The City, the asking price for a one-bedroom residence has risen for a third consecutive month, up .2 percent to $1,919, the report said.

That reverses a downward trend seen in the first half of the year, it said.

 

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