The median home price of existing single-family homes rose to $229,000 in the third quarter, up 5.5% from the same quarter a year ago, according to the National Association of Realtors’ Metropolitan Median Area Prices And Affordability report release Thursday morning.
During the third quarter, home prices rose in 87% of all measured markets (or 154 out of 178 metropolitan statistical areas) while 24 metros recorded lower median prices from a year earlier. A total of 21 MSAs (12%) experienced double-digit increases, compared to 16 MSAs in the third quarter of 2014.
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