Scotsman Guide > News > Top Headlines > News Story

 Enter your e-mail address and password below.

  •  
  •  

Forgot your password? New User? Register Now.

Top Headlines

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

NAR: Home prices are still rising in most markets


The U.S. housing market may be slowing down, but home prices are not yet widely falling, the National Association of Realtors (NAR) reported on Thursday. 

Sales prices ran solidly ahead of last year in nearly all major markets during the summer, the trade group said.

existhomeThe U.S. median home price stood at $266,900 in the July-through-September, third-quarter period, which was up 4.8 percent compared to the third quarter of 2017, the trade group said. The growth in the national median home price has slowed slightly from second quarter. Prices rose compared to a year earlier in 166 out of 178 measured markets, or 93 percent of the metros.

Eighteen of these markets experienced double-digit annual gains in the third-quarter, NAR said. 

NAR Chief Economist Lawrence Yun said the supply of upper-tier homes has improved, but a lack of homes in lower-end tiers continues to put pressure on prices and dampen sales. Home sales ran at an annualized pace of 5.3 million, down 2.4 percent compared to the pace a year earlier.

“A strong economy and consistent job growth should be driving up home sales; however, would-be homebuyers are struggling to find a home they can afford,” Yun said. “As mortgage rates continue to rise, reaching the decade’s highest rates this quarter, an increase in the supply of affordable homes has become even more important to help temper price growth across the country.”

The list of the nation’s most expensive markets in terms of the median sales price remains the same: San Jose ($1.3 million); San Francisco ($989,000); Anaheim ($830,000); urban Honolulu ($818,600); and San Diego ($650,000). 


 

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

Bubble 1 Comments

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



  1. Posted: Nov 10, 2018  15:50 ET    Updated: Nov 10, 2018  15:51 ET
    By: James Summers | Commerce Home Mortgage
    1. 0


It's not just housing prices and rates that have made buying difficult, it's the oppressive Affordable Care Act that is a burden on most families that don't qualify for subsidies, that is MOST Americans. Policies ranging from $1,400 to $2,000 per month with high deductibles has successfully, thanks to Obama, become a monthly cost that is taking away the ability for most to purchase a home.


 

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
 
 
 
 

 
 

© 2018 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy