Posted To: MND NewsWire

Metro area home prices rose sharply in the first quarter of 2021 and virtually every part of the country was impacted. The National Association of Realtors® (NAR) said that 99 percent of the 183 areas it tracks posted annual price gains, and for 89 percent (163 areas) those increases were in the double digits. For comparison, in the first quarter of 2020 only a quarter of the areas (46 of 181) had that magnitude of growth. The median price of an existing single family home rose 16.2 percent to a national median of $319,200, the largest gain since 1989. The 11 areas with the most outsized growth, however, were not necessarily those with the most expensive homes. The top increase, 35.5 percent, was Kingston, New York where the median is now $303,100. The highest median price among the 11…(read more)

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Published On: May 12, 2021 / Categories: Mortgage News /