In the first quarter, median existing single-family home prices rose in 91 out of 152 metropolitan areas compared to a year ago. The report, from The National Association of Realtors, showed double-digit increases in 29 cities. Overall, the national median home price was $166,100, down just 0.7 percent from the first quarter of 2009. NAR’s chief economist, Lawrence Yun, said the flattening of home prices was due, in part, to the home buyer tax credit’s role in drawing down excess inventory. Distressed homes accounted for only 36 percent of all first-quarter sales. More here, here, and here.
Theresa Springer’s Blog
Home Prices Post Gains In First Quarter
May 11, 2010
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