Supplies Put Home Prices on the Move

Supplies Put Home Prices on the Move

Home prices posted solid gains in the fourth quarter of 2014, with the majority of metro areas seeing a slightly stronger price growth, propelled by tight housing supplies, low interest rates, and a strengthening job market, according to the National Association of REALTORS®’ latest quarterly report. The national median existing single-family home price was $208,700 in the fourth quarter, up 6 percent year-over-year, reports. The median existing single-family home price rose in 150 out of the 175 metro markets tracked – or 86 percent. That marks a stronger price gain compared to the third quarter when 73 percent of the metro areas had posted increases. What’s more, 24 areas – or 14 percent – saw double-digit increases in the fourth quarter, Learn more.