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Home Prices

Four out of five major metros posted double-digit home price increases

The drop in sales failed to bring down prices in the second quarter

Rising mortgage rates and falling home sales failed to bring down home prices in the second quarter, according to a new report from the National Association of Realtors (NAR). In fact, four out of five of the largest metro areas recorded year-over-year double-digit price increases.

On a nationwide basis, the NAR puts the median price of a single-family home at $413,000, a 14.2% increase over the second quarter of 2021. NAR Chief Economist Lawrence Yun worries that these ...

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