Home Prices Are Accelerating Again

Posted on: February 15th, 2016 by RAGC Team No Comments

Home prices posted a strong growth in closing out the final quarter of 2015, despite a moderating pace of sales, according to a new quarterly report released by the National Association of REALTORS® this week.

NAR reports that the median existing single-family home price rose in 81 percent – or 145 out of 179 metro area – of the markets tracked. Thirty metro areas – or 17 percent – posted double-digit price increases in the fourth quarter of 2015, which trumps the 12 percent of markets that saw double-digit increases in the fourth quarter of 2014.

“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,” says Lawrence Yun, NAR’s chief economist. “As a result, home ownership 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.”

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