Median single-family resale home prices rose in 62 percent of metro areas tracked by the National Association of Realtors in the third quarter compared to third quarter 2006, according to a report released today, while the U.S. median price fell 2 percent and total existing-home sales dropped in most states. Ninety-three of 150 metro areas in the report had year-over-year price gains in the third quarter, with double-digit price gains in six metro areas and double-digit price declines in three metro areas. Meanwhile, all but two states experienced a year-over-year sales decline in the third quarter, with two states reporting a sales increase and data not available for two states, according to the NAR report. The median single-family resale price slipped 3.8 percent in the West in the third quarter compared to third-quarter 2006, fell 3.6 percent in the South, rose 3.2 percent in the Northeast and gained 0.5 percent gain in the Midwest, the Realtor trade group reported. Nationwide sales...
by Brad Inman | on Mar 21, 2017
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