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Home Price Gains Picked Up Speed in Q4

Posted To: MND NewsWire

Inventory issues remain a major concern and are pushing home prices in urban America still higher. The National Association of Realtors'® (NAR's) quarterly report on metropolitan home prices says 170 or 94 percent of the 180 metropolitan statistical areas (MSAs) it tracks, posted appreciation in their median home price during the fourth quarter of 2019. Ninety-three percent had gains in the third quarter. The national median existing single-family home price was up 6.6 percent from the median of $258,000 a year earlier. The annual rate of appreciation was 5.1 percent in the third quarter. "It is challenging - especially for those potential buyers - where we have a good economy, low interest rates and a soaring stock market, yet are finding very few homes available for sale," said Lawrence...(read more)