Metro home prices increased 4 percent during the fourth quarter of 2018, climbing to a median of $257,600 compared with a median of $247,800 in the fourth quarter of 2017, according to the National Association of Realtors.
“Home prices continued to rise in the vast majority of markets, but with inventory steadily increasing, home prices are, on average, rising at a slower and healthier pace,” NAR Chief Economist Lawrence Yun said in a statement. Regionally, home prices increased across the board.
Sales of existing homes fell 1.8 percent compared with the third quarter of 2018, falling to a seasonally adjusted annual rate of 5.180 million.
Existing home sales grew 3.9 percent in the Northeast and declined 0.3 percent in the Midwest, 2 percent in the South and 6.5 percent in the West. See the full NAR report here.
