Metro Area Home Price Growth Trend Continues in First Quarter

WASHINGTON (May 9, 2013) – Metropolitan area median home prices continued to rise in the first quarter, with the national gain showing the best year-over-year performance in over seven years, according to the latest quarterly report by the National Association of Realtors^®.  A companion breakout of income requirements to purchase a median-priced home on a metro basis shows the typical buyer earns roughly double the income needed to buy a home in his or her area.

The median existing single-family home price rose in 133 out of 150 metropolitan statistical areas¹ (MSAs) based on closings in the first quarter of 2013 compared with first quarter last year, while 17 areas had price declines.  In the fourth quarter of 2012, a comparable 133 areas showed price increases from a year earlier, greatly improved from the first quarter of 2012 when prices in only 74 metros were up.

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Posted on 05/17/2013 in deep creek lake