MEDIAN HOME PRICE HITS 8-YEAR HIGH

Tight Inventory Drives Home Prices

Coming in at the strongest gain in seven and a half years, the national year-over-year median home prices continued to increase in the majority of metropolitan areas in the second quarter, according to the latest quarterly report by the National Association of Realtors.

Buyers remain well positioned to afford a home in their area, despite rising prices and higher mortgage interest rates, the report revealed.

The median existing single-family home priced rose in 87% of measured markets, as 142 out of 163 metropolitan statistical areas posted gains based on closings in the second quarter versus the second quarter of 2012.? READ MORE

BY MEGAN HOPKINS

 

 

 

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