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Sponsored by Quicken Loans |
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Limited Supply Spurs Higher Prices in Third Quarter |
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Persistent supply shortages throughout the country led to slightly faster home price appreciation during the third quarter, according to the latest quarterly report by the National Association of REALTORS®. The report also revealed that seven of the 10 most expensive housing markets in the U.S. are in the West, including San Jose, Calif., which had a median single-family home price of $1 million for the second straight quarter. The median existing single-family home price increased in 87 percent of measured markets, with 155 out of 178 metropolitan statistical areas (MSAs) showing gains based on closed sales in the third quarter compared with the third quarter of 2015. Twenty-two areas (12 percent) recorded lower ...
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