metro home

According to the latest quarterly report by the National Association of Realtors®, despite low home sales in U.S, metro home prices start to rise again in Q4,2015.

The median existing single-family home prices increased 81 percent of metropolitian markets in Q4 2015 compared to the Q3,2014.

Thirty metro areas in the fourth quarter (17 percent) experienced double-digit increases, a jump from the 20 metro areas in the third quarter. Twenty-two metro areas (12 percent) experienced double-digit increases in the fourth quarter of 2014.

Lawrence Yun, NAR chief economist, says faster price growth reawakened in the final months of 2015 despite the pace of sales slowing from earlier in the year. “Even with slightly cooling demand, the unshakeable trend of inadequate supply in relation to the overall pool of prospective buyers inflicted upward pressure on home prices in several metro areas,” he said. “As a result, homeownership continues to be out of reach for a number of qualified buyers in the top job producing, but costliest, parts of the country – especially on the West Coast and parts of the South.”

The national median existing single-family home price rose by 6,9 percent in Q4,2015 to $222,7000 compared to the fourth quarter of 2014 ($208,400). The median price during the third quarter of 2015 increased 5.4 percent from the third quarter of 2014.

Total existing-home sales, including single family and condo, decreased by 5.4 percent from 5.48 million in the third quarter from 5.18 million in the fourth quarter, but are 2.4 percent higher than the 5.06 million pace during the fourth quarter of 2014.

Source: http://www.realtor.org/

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