NAR: Home Prices Hit New Record High – NMP
Industry News

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
Phil Hall
Link copied
Published
Aug 08, 2018
Get the NMP Daily
Home Equity
Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Continue reading
Analysis and Data
Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026