Prices rise in 85% of markets, inventory falls
Builder
The strongest quarterly sales pace in exactly a decade put significant downward pressure on inventory levels and caused price growth to further accelerate during the first three months of 2017, according to the latest quarterly report by the National Association of Realtors. Metro home prices have now accelerated for three consecutive quarters.
The national median existing single-family home price in the first quarter was $232,100, which is up 6.9% from the first quarter of 2016 ($217,200) and the fastest growth since the second quarter of 2015 (8.2%). The median price during the fourth quarter of 2016 increased 5.9% from the fourth quarter of 2015.
