X
X
Where did you hear about us?
The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Property prices increased in most US metro areas in Q2 2019

Most metro areas in the US saw price gains while the supply of homes for sale grew only marginally in the second quarter of 2019, according to the latest research from realtors.

Single family median home prices increased year on year in 91% of measured markets in the second quarter, with 162 of 178 metropolitan statistical areas showing sales price gains, according to the report from the National Association of Realtors. That is up from the 86% share in the first quarter of 2019.

The national median existing single family home price in the second quarter was $279,600, up 4.3% from the second quarter of 2018 when it was $268,000.

The metro areas where single family median home prices declined included the high cost areas of San Jose-Sunnyvale-Santa Clara in California with a fall of 5.3%, San Francisco-Oakland-Hayward, also in California, down 1.9%, and Urban Honolulu in Hawaii down 1.2%.

Ten metro areas experienced double digit increases, including the moderate cost metro areas of Boise City-Nampa in Idaho, Abilene in Texas, Columbia in Montana, Burlington-South Burlington in Vermont, and Atlantic City-Hammonton in New Jersey.

Lawrence Yun, NAR chief economist, said home builders must bring more homes to the market. “New home construction is greatly needed, however home construction fell in the first half of the year.”

If you want to read more news subscribe

subscribe