90 Percent of US Metro Area Home Prices Rose in Q2
Published on August 16, 2024
What could be good news for home sellers may be not be so welcoming for potential home buyers. A new report by the National Association of Realtors (NAR) indicates that 90 percent of America’s metro markets saw single-family home prices climb in the second quarter of 2024. The NAR report also states that 13 percent—29 markets—of the 223 tracked metro areas across the U.S. experienced double-digit price increases over the same period. For the first time since 1979, the median single-family existing-home price for the San Jose, California metro area skyrocketed past $2 million, settling at $2,008,000. “The record-high home prices in most metro markets bring good and bad news,” said NAR Chief Economist Lawrence Yun....