Median home prices for single-family homes posted year-over-year gains in 110 out of 147 markets tracked by the National Association of Realtors during the second quarter, compared with 74 markets that saw annual appreciation during the first quarter.Some of the improvement in prices is due to a smaller share of sales in low price ranges where inventory is tight, said NAR Chief Economist Lawrence Yun. But Yun predicted even more markets would post gains in the quarters ahead, which will improve the equity position of existing homeowners, many of whom owe more on their mortgages than their home is worth.At the national level, the median sale price of existing single-family homes during the second quarter was up 7.3 percent from a year ago, to $181,500. That's the biggest annual increase in ...
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