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Home Prices Increase in Most Metro Areas

As the housing recovery broadened in the fourth quarter of 2012, the National Association of REALTORS® reports that prices for single-family homes rose in nearly 88 percent of U.S. cities.

According to NAR, the national median price for an existing single-family home was $178,900 in the last three months of 2012 — a 10 percent increase from the fourth quarter a year prior and the biggest gain since 2005.

“Home sales are on a sustained uptrend,” Lawrence Yun, chief economist for the National Association of Realtors, said in the report. “Home sales are being fueled by a pent-up demand and job creation, along with still-favorable affordability conditions and rents rising at faster rates.”

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Source: “88% of U.S. Cities See Housing Price Gains” REALTORMag (02/13/13)

Source: “Home Prices Increase in Most Metro Areas” Fort Worth Star-Telegram (02/12/13)

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