1st Quarter Prices Up in 85 Percent of Metro Areas

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Posted To: MND NewsWire

The first quarter of 2017 the year saw home prices in large metropolitan areas appreciate at the fastest rate in nearly two years . The National Association of Realtors® (NAR) said on Monday that prices were up in 85 percent (152 of 178) of the metropolitan statistical areas (MSAs) it tracks, with the median price for an existing single family home gaining 6.9 percent. Metro prices have now accelerated for three consecutive quarters. The increase, from a median of $217,200 in the first quarter of 2016 to $232,100, was the most significant gain since the year-over-year growth of 8.2 percent registered in the second quarter of 2015. The median condominium and cooperative price in the 61 MSAs tracked was $218,600, up 7.1 percent from the first quarter of 2016. Eighty-five percent of metro…(read more)

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