"Home prices rose in 77% of metro areas in Q3 Furthermore, 4% of metro areas saw double-digit quarterly price gains, although that was down from 5% in the second quarter. Nationwide, the median price for a single-family home increased 1.7% year over year to $426,800. Prices increased by the same annual rate during the second quarter."
""Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth," NAR Chief Economist Lawrence Yun said in a press release. "Markets in the supply-constrained Northeast and the more affordable Midwest have generally seen stronger price appreciation.""
"By metro, the market with the greatest year-over-year median-price increase was Trenton, New Jersey, where the median rose 9.9%; followed by Lansing-East Lansing, Michigan (up 9.8%); Nassau County-Suffolk County, New York (up 9.4%); New Haven-Millford, Connecticut (up 9%); New York-Jersey City-White Plains (up 8.1%); Manchester-Nashua, New Hampshire (up 8%); St. Louis (up 7.9%); Bridgeport-Stamford-Norwalk, Connecticut (up 7.8%); Toledo, Ohio (up 7.7%); and Cleveland-Elyria (up 7.7%)."
Home prices rose in 77% of metro areas in the third quarter, with 4% of metros posting double-digit quarterly gains. The nationwide median price for a single-family home increased 1.7% year over year to $426,800, matching the second quarter's annual pace. Annual gains were strongest in the Northeast (up 6% to $540,100) and the Midwest (up 4.2% to $331,100), while the South rose 0.5% to $372,800 and the West declined 0.1% to $633,900. Price declines are concentrated mainly in southern states with robust new-home construction. The typical monthly mortgage payment was $2,187 with a 20% down payment, down 2.8% quarter over quarter and up 2.1% year over year.
Read at Boston Condos For Sale Ford Realty
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