Home prices were on the rise in the second quarter in most of the nation’s major metros. According to the latest quarterly report from the National Association of Realtors, median single-family home prices increased year over year in 96% of measured markets, with 174 of 181 metropolitan statistical areas seeing sales price gains.
This is the same percentage of metro areas that saw price gains in the first quarter. The national median existing single-family home price in the second quarter was $291,300, a year-over-year increase of 4.2%. However, the appreciation slowed compared with the first quarter, which had a pre-pandemic rate of 7.7%.