Around 90% of measured metro markets registered home price gains in the third quarter of 2024, according to the National Association of Realtors quarterly report.
Single-family existing-home sales prices increased in 87% of measured metro areas in the third quarter, down from 89% in the second quarter.
The national median single-family existing-home price grew 3.1% year-over-year to $418,700.
Among the major U.S. regions, the South registered the largest share of single-family existing-home sales at 45.1% in the third quarter.
Prices increased 7.8% in the Northeast, 4.3% in the Midwest and 1.8% in the West.
“Home prices remain on solid ground as reflected by the vast number of markets experiencing gains,” NAR Chief Economist Lawrence Yun said in a statement. “A typical homeowner accumulated $147,000 in housing wealth in the last five years.”
Read the full report here.
