Metro Area Home Prices: At the end of 2012, the national median price saw the biggest annual gain in seven years, more metros reported price improvements, and housing affordability managed to finish the year at a record level despite rising values, the National Association of Realtors (NAR) reported Monday.
In Q4 2012, median prices for existing single-family homes increased in 133 out of 152 metro areas compared to the same quarter in 2011. In Q4 2011, only 29 metros showed year-over-year improvement, and in Q3 2012, 120 metro areas posted yearly gains.
The NAR also found the national median price for an existing single-family home rose to $178,900 in Q4, up 10 percent from the fourth quarter of 2011. The increase marks the biggest year-over-year gain since the fourth quarter of 2005, when the median price was up 13.6 percent. Read more ...
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