Home Prices Increase

istock_dollar-housees-in-row
Home Prices Increase
A promising increase in home sales throughout the country “amidst insufficient supply” caused home prices to steadily rise in most metro areas during the second quarter, according to the National Association of Realtors’ (NAR) latest quarterly survey. The median existing single-family home price increased in 93 percent of measured markets, with 163 out of 176 metropolitan statistical areas (MSAs) showing gains based on closings in the second quarter compared with the second quarter of 2014. Thirteen areas (7 percent) recorded lower median prices from a year earlier. The national median existing single-family home price in the second quarter was $229,400, up 8.2 percent from the second quarter of 2014 ($212,000). The median price during the first quarter of this year increased 7.1 percent from a year earlier. (NAR)

www.WinterHavenRealtors.com