Fourth Quarter Home Prices Up 5.3 Percent

Feb 13, 2018

The housing markets in 21 of the nation’s largest 35 metros have more than recovered from the 2008 economic meltdown, according to a new data analysis from Zillow

The U.S. median existing single-family home price in the fourth quarter was $247,800, according to new data from the National Association of Realtors (NAR). The fourth quarter’s price was up 5.6 percent from the third quarter and up 5.3 percent from one year earlier.

Single-family home prices increased in 162 out of the 177 markets tracked by NAR, or 92 percent of measured markets, with 26 markets recording double-digit increases and 18 metros setting new peak sales prices. Home prices are now at their all-time high in 114 markets, or nearly two-thirds of nation’s major metro areas.

Four of the five most expensive housing markets in the fourth quarter were all in California: San Jose ($1.27 million median existing single-family price), San Francisco-Oakland-Hayward ($920,000), Anaheim-Santa Ana-Irvine ($785,000); urban Honolulu ($760,600) and San Diego-Carlsbad ($610,000). In comparison, the lowest-cost metro area in the fourth quarter was Cumberland, Md., with a median sales price of $84,600.

“A majority of the country saw an upswing in buyer interest at the end of last year, which ultimately ended up putting even more strain on inventory levels and prices,” said NAR Chief Economist Lawrence Yun. “Remarkably, home prices have risen a cumulative 48 percent since 2011, yet during this same timeframe, incomes are up only 15 percent. In the West region, where very healthy labor markets are driving demand, the gap is even wider.”

Total existing-home sales, including single family and condos, increased 4.3 percent to a seasonally adjusted annual rate of 5.62 million in the fourth quarter from 5.39 million in the third quarter, and are 1.3 percent higher than the 5.55 million pace during the fourth quarter of 2016.

About the author

Phil Hall

Link copied

Published

Feb 13, 2018

Regulation and Compliance

Mortgage AI Survey Finds Monitoring Gap At Smaller Lenders

Only 40% of smaller lenders surveyed reported ongoing AI monitoring, compared with 80% of larger lenders, as a new state examiner guide details the records regulators may request

Mortgage companies have been putting AI policies in place. Keeping watch over the tools after they go live is proving less consistent, particularly among smaller lenders.A new survey by the American Association of Residential Mortgage Regulators (AARMR), the Mortgage Bankers...

Operations

Can AI Crack The Mortgage Approval Gap?

A company white paper links lower decline rates to its AI-enabled workflow, then estimates the potential lending volume if those rates held nationwide.

Mortgage applications processed through AngelAi at Sun West Mortgage had substantially lower decline rates in 2025 than applications in the national market, according to a new company white paper. The gap appeared across Asian, Black, Hispanic, and white applicant groups.Sun...

Oct

Denver, CO

More from

Industry News

Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News

Sep 29, 2026

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026