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Homeowners Continue to Enjoy Price Gains
Tuesday, May 14, 2019
According to Lawrence Yun, chief economist
for the National Association of Realtors® (NAR), a typical homeowner in the
U.S. saw his or her housing wealth increase by $9,500 over the past year. Yun commented in NAR's first quarter report
on existing home sales that the quarter had been beneficial to homeowners as "the majority of markets are continuing to enjoy price gains,
albeit at a slower rate of growth." The national
median existing single-family home price in the first quarter increased by 3.9
percent to $254,800. In the first
quarter of 2018 the median was $245,300.
While those gains were not universal, NAR said single-family home prices increased year-over-year in 86
percent or 153 of 178 metropolitan statistical areas tracked by the association.
Thirteen metro areas experienced double-digit increases, one fewer than in the
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