Buyers Face Double-Digit Home Price
Gains Across Metro Areas
Home prices continue to climb in a market with limited number of homes for sale and high buyer demand. The majority of major metros across the U.S. posted double-digit price gains in the third quarter. Single-family existing home prices increased in all 181 metro areas tracked in the National Association of REALTORS®’ latest quarterly report, released Thursday.
The price of single-family homes surged 12% year over year to $313,500. The Western region of the U.S. led the country in price appreciation, up 13.7%, followed closely by the Northeast at 13.3%, the South at 11.4%, and the Midwest at 11.1%.
