NAR: Home Prices Hit New Record High – NMP Skip to main content

NAR: Home Prices Hit New Record High

Aug 08, 2018
Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR)

From the up-up-and-away department: The national median existing single-family home price in the second quarter was $269,000, a new record high, according to data from the National Association of Realtors (NAR). The second quarter level was 5.3 percent above the previous peak of $255,400 set in the second quarter of 2017.
 
Single-family home prices increased in 90 percent of NAR’s measured markets during the second quarter, with 161 out of 178 metro areas experiencing annualized sales price growth. Twenty-four metro areas, or 13 percent, experienced double-digit increases, while the San Francisco metro area joined the San Jose metro area for having a median sales price above $1 million. There were 1.95 million existing homes available for sale by the end of the second quarter, 0.5 percent above the 1.94 million homes for sale at the end of the second quarter in 2017.
 
“The ongoing supply crunch affecting much of the country worsened for most of the second quarter, as the growing number of interested buyers in many markets overwhelmed what was already a meager level of available listings,” said NAR Chief Economist Lawrence Yun. “With not enough homes for sale, multiple bids caused prices to rise briskly and further out of the reach of some prospective buyers.”

 
About the author
Published
Aug 08, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026