Single-family existing-home sales prices rose in 89% of measured metro areas in the fourth quarter, up from 87% in the third quarter, according to the National Association of Realtors.
The national median single-family existing-home price climbed to $410,100, up 4.8% year-over-year.
"Record-high home prices and the accompanying housing wealth gains are definitely good news for property owners," NAR Chief Economist Lawrence Yun said in a statement. "However, renters who are looking to transition into homeownership face significant hurdles."
Regionally, the South registered a year-over-year price increase of 2.1% for single-family existing-home sales. Prices also increased 10.6% in the Northeast, 8.0% in the Midwest and 4.0% in the West.
Read the full report here.
