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More Areas Seeing Double Digit Home Price Gains

Monday, May 11, 2015

Home price appreciation accelerated in many metropolitan areas in the first quarter of 2015.  The National Association of Realtors® (NAR) again said the cause for rising prices was a lagging inventory of available houses in the face of a growing demand.

Median home prices increased in the first quarter in 85 percent of the 174 metropolitan statistical areas (MSAs) tracked by NAR, the same percentage as posted increases in the fourth quarter of 2014.  However in 51 of those areas (29 percent) the gains were in double digits, more than double the number (24) showing such growth a quarter earlier and significantly higher than the 37 MSAs in that category in the first quarter of 2014. Twenty-five areas (14 percent) saw median prices decline year over year.

 

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