The National Association of Realtors’ Metropolitan Median Area Prices and Affordability Report shows affordability becoming less prevalent compared to last year. Only 16 percent (29 out of 178) of metro statistical areas had a lower median price in the second quarter of 2016 than last year, NAR says.
- The median single-family home price in America increased 4.9 percent since the second quarter of 2015, reaching $240,700.
- The highest median single-family home price in the country was in San Jose-Sunnyvale-Santa Clara metro, hitting $1.085 million.
- Four of the top five metros with highest median price were in California, with Urban Honolulu being the other area.
- The Houston-The Woodlands-Sugar Land metro saw an annual decrease of 1.7 percent in median home prices in the second quarter.
The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills