Home-Price Gains Unfettered in Most Metro Areas during Second Quarter

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WASHINGTON (August 10, 2016) — Home prices maintained their robust, upward trajectory in a vast majority of metro areas during the second quarter, causing affordability to slightly decline despite mortgage rates hovering at lows not seen in over three years, according to the latest quarterly report by the National Association of Realtors®. The report also revealed that for the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million.

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