Fire & Finance Blog

Fire & Finance Blog

Home Prices Rise Despite Slower Sales

Home prices were up in most of the U.S. in the last three months of 2015 despite a slower pace of sales activity, according to new data from the National Association of Realtors.

The NAR said that median existing single-family home price increased in 81% of measured markets, while only thirty-four areas (19%) recorded lower median prices from a year earlier.

Prices were up the most in the West, where the median price of an existing single-family home increased 8.4%, to a median price of $323,600 in the fourth quarter from the fourth quarter of 2014.

In the Midwest, the median existing single-family home price increased 6%, to $171,600 from the same quarter a year ago.

Prices rose by 3.7% in the Northeast, to $254,500, while the median existing single-family home price in the South was $195,400 in the fourth quarter. That was 6.6% higher than 4Q14.

Sales activity was generally higher than the year-ago fourth quarter, but slower than the pace set in the third quarter of 2015.

Existing-home sales increased 1.9% in the Northeast from 3Q15 to 4Q15, but declined by 6.9% in the Midwest, 4.1% in the South and by 10.4% in the West.

Home Prices

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