Scotsman Guide > News > February 2018 > News Story

 Enter your e-mail address and password below.

  •  
  •  

Forgot your password? New User? Register Now.

News Archives

 
Subscribe icon Subscribe to our weekly e-newsletter, Top News.

Home prices hit new peak


Single-family home prices have reached an all-time high in 64 percent of the nation’s metropolitan areas, according to the National Association of Realtors (NAR).

Prices were at record highs in 114 of 177 metropolitan statistical areas in the fourth quarter, the trade group said. The national median price for a single-family home was $247,800, up 5.3 percent compared to the fourth quarter of 2016. In the fourth quarter, prices rose in 92 percent of the measured metros.

“Remarkably, home prices have risen a cumulative 48 percent since 2011, yet during this same time frame, incomes are up only 15 percent,” NAR Chief Economist Lawrence Yun said.

“In the West region, where very healthy labor markets are driving demand, the gap is even wider,” Yun said.

The five most expensive housing markets were the San Jose, California metro area, where the median existing single-family home price was $1,270,000; followed by San Francisco-Oakland-Hayward, California, $920,000; Anaheim-Santa Ana-Irvine, California, $785,000; urban Honolulu, $760,600; and San Diego-Carlsbad, $610,000.

NAR said for-sale inventories dropped to record lows in the fourth quarter. There were 1.48 million existing homes available for sale, 10.3 percent below the 1.65 million homes for sale a year earlier, the trade group said. The average supply during the fourth quarter was 3.5 months, down from 4.2 months in the fourth quarter of last year.


 

Questions? Contact at (425) 984-6017 or victorw@scotsmanguide.com.

Bubble 0 Comments

By submitting this comment, you agree to comply with our Terms of Use.



The text exceeds the maximum number of characters allowed.


Are you sure you want to permanently delete this blog comment? This action cannot be reversed.



You must enable your community profile to use this feature.

Cancel Enable profile

You have flagged this post for inappropriate content.

Please explain below. Thank you.

Cancel Submit

Get the latest news and articles from Scotsman Guide straight to your inbox.


Send me the following e-mails:





Learn more about Scotsman Guide e-mails

Thank you for signing up to receive e-mails from Scotsman Guide.

A confirmation e-mail has been sent to the address you provided.

For questions regarding your e-mail subscriptions please contact Circulation@ScotsmanGuide.com or call (800) 297-6061.


Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Follow Us:Visit Scotsman Guide Facebook pageVisit Scotsman Guide LinkedIn pageVisit Scotsman Guide g+ pageVisit Scotsman Guide Twitter page
 
 
 
 

 
 

© 2017 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy