The third quarter 2012 report by the National Association of Realtors was released November 7. Growth in metropolitan area median home prices increased in the third quarter, and more areas are showing gains.
- The median existing single-family home price rose in 120 out of 149 metropolitan statistical areas (MSAs) based on closings in the third quarter compared with same quarter in 2011.
- The national median existing single-family home price was $186,100 in the third quarter, up 7.6% from $173,000 in the third quarter of 2011, which is the strongest year-over-year price increase since the first quarter of 2006.
- In the condo sector, prices - covering changes in 54 metro areas - rose 7.7% from the third quarter of 2011.
- Northeast are 9.8% above the third quarter of 2011.
- In the Midwest, existing-home sales are 17.8% higher than a year ago.
- Existing-home sales in the South are 11.7% above the third quarter of 2011.
- In the West, existing-home sales are 2.1% higher than a year ago.