Tuesday , 23 October 2018

Home Price Increases Since 2011 More Than Triple Income Gains

By Jann Swanson

Posted To: MND NewsWire

While home price increases softened slightly in the fourth quarter of last year, the National Association of Realtors® (NAR) said, an uptick in existing home sales further exhausted available inventories. NAR’s quarterly metropolitan area housing report puts the national median existing single-family home price at $247,800 at the end of 2017, up 5.3 percent from the fourth quarter of 2016. The year-over-year gain in the third quarter of 2017 was a slightly higher 5.6 percent. Single-family home prices grew in 162 or 92 percent of the 177 metropolitan statistical areas (MSAs) tracked by NAR. In 26 of those areas, or 16 percent, the gains were in the double digits compared to in 11 percent the prior quarter. Eighteen MSAs set new price peaks, bringing the number with median prices at record…(read more)

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