Skip to main content

Q1 Metro Home Prices Up 3.9 Percent

Phil Hall
May 14, 2019
Photo credit: Getty Images/prachanart

The national median existing single-family home price in the first quarter was $254,800, according to new data from the National Association of Realtors (NAR). This represents a 3.9 percent increase from the $245,300 price in the first quarter of 2018.
During the first quarter, single-family home prices increased year-over-year in 153 of the 178 metro areas tracked by NAR, or 86 percent, with 13 metro areas recording double-digit increases, down from 14 in 2018’s fourth quarter. Total existing-home sales were up by 1.2 percent to a seasonally adjusted annual rate of 5.207 million in the first quarter compared to 5.143 million in the fourth quarter of 2018, but this level was 5.4 percent below the 5.507 million-pace in the first quarter of 2018. And 1.68 million existing homes were available for sale in the first quarter, up 2.4 percent from the 1.64 figure at the end of 2018’s first quarter, while the average supply of 3.8 months was slightly higher than the 3.5 months in the first quarter of 2018.
“Homeowners in the majority of markets are continuing to enjoy price gains, albeit at a slower rate of growth,” said NAR Chief Economist Lawrence Yun. “A typical homeowner accumulated $9,500 in wealth over the past year.”

May 14, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022