U.S. Home Prices Jumped to Record High in Second Quarter
Median prices rose by double digits from a year earlier in 80% of 185 metro areas, National Association of Realtors says
Home prices continued to climb across nearly all the U.S. in the second quarter, when buyer demand started to fade due to higher mortgage rates but still exceeded the housing market’s unusually low supply.
The median sales price was higher in the quarter compared with a year ago for 184 of the 185 metro areas tracked, the National Association of Realtors said Thursday. The only metro area to post a decline was Trenton, N.J., where median prices fell 0.7%, NAR said.