Home Prices Climb in 87% of U.S. Cities as Recovery Builds | Pound Ridge Real Estate

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Prices for single-family homes climbed in 87 percent of U.S. cities in the second quarter as the national housing recovery accelerated amid competition for a limited number of properties on the market.
The median transaction price rose from a year earlier in 142 of 163 metropolitan areas measured, the National Association of Realtors said in a report today. A year earlier, 75 percent of regions had gains.
Values are increasing as homebuyers, encouraged by improving employment, compete for a tight supply of listed properties. At the end of the second quarter, 2.19 million previously owned homes were available for sale, 7.6 percent fewer than a year earlier, according to the Realtors group.
“There continue to be more buyers than sellers, and that is placing pressure on home prices, with multiple bids common in some areas of the country,” Lawrence Yun, chief economist for the National Association of Realtors, said in the report.



Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Home Prices Climb in 87% of U.S. Cities as Recovery Builds | Pound Ridge Real Estate

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