The median price of single family homes rose in 96% of metro areas in the second quarter of 2020, the National Association of Realtors reports.
It is the same percentage of metros that showed home price gains in the first quarter of 2020.
“Home prices have held up well, largely due to the combination of very strong demand for housing and a limited supply of homes for sale,” stated Lawrence Yun, NAR chief economist. “Historically low inventory continues to reinforce and even increase prices in some areas.”
The median home price for the second quarter was $291,300, a 4.2% increase year-over-year.
The full NAR report can be found at this link.
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