Affordability Now Biggest Concern as Metro Home Prices Rise

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Posted To: MND NewsWire

Single family home prices increased during the third quarter of 2018 in 93 percent or 166 of the 178 metropolitan areas tracked by the National Association of Realtors ® (NAR). NAR’s quarterly report on existing home sales and metro area prices again faults the low level of moderately priced homes for stifling home sales and continuing to drive prices higher. None-the-less, there was a tiny bit of deceleration noted in the third quarter report. NAR says the national median price for an existing single-family home was $266,900, an increase of 4.8 percent from the third quarter 2017 median of $254,700. This is a 0.1 point smaller rate of increase than in second quarter. The number of metro areas with double digit increases also declined, from 24 in the second quarter to 18 in the third. Lawrence…(read more)

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