WASHINGTON (November 9, 2011)- Metro
area median existing - home prices in the third quarter generally were down from a year ago, while sales rose in every state from the third quarter of 2010, according to the latest quarterly report by the National Association of Realtors ®.
NOTE: Metropolitan
area median existing - home prices for the third quarter will be published November 7, existing - home sales for October will be reported November 19 and the next Pending Home Sales Index will be on November 29; release times are 10:00 a.m. EST..
Metro
area median existing - home prices in the third quarter generally were down from a year ago, while sales rose in every state from the third quarter of 2010.
Not exact matches
But time is on your side right now: Home values are continuing to climb, with the
median existing single - family home price increasing in 148 of the 178 cities measured by the National Association of Realtors ®» latest Metropolitan Median Area Prices and Affordability quarterly
median existing single - family home price increasing in 148 of the 178 cities measured by the National Association of Realtors ®» latest Metropolitan
Median Area Prices and Affordability quarterly
Median Area Prices and Affordability quarterly study.
The new HOME homeownership value limits for
existing HOME units is 95 percent of the
median purchase price for the
area based on Federal FHA single family mortgage program data for
existing housing and other appropriate data that are available nation - wide for sale of
existing housing in standard condition.
The FHA used a combination of
existing government data sets and available commercial information to determine the
median sales price for each
area, and released the data approximately two weeks after the President signed the stimulus bill.
The FHA used a combination of
existing government data sets and available commercial information to determine the
median sales price for each
area.
At a minimum, an equal amount of
existing building
area shall be renovated annually to meet a fossil fuel, GHG - emitting, energy consumption performance standard of 70 % of the regional (or country) average /
median for that building type.
During the second quarter,
median existing single - family home prices rose in 83 % of metropolitan statistical
areas, according to newly released data from the National Association of Realtors.
With generally balanced inventory conditions in many
areas, the
median existing - home price is projected to rise about 5 percent in both 2012 and 2013.
With several metro
areas seeing hefty price growth, the national
median existing - home price is expected to rise around 5 percent this year.
The most expensive metro
areas by
median existing single - family price in the first quarter were San Jose, Calif. ($ 1,070,000); San Francisco, Calif. ($ 815,000); Anaheim - Santa Ana, Calif. ($ 750,000); Honolulu, Hawaii ($ 746,000); and San Diego, Calif. ($ 564,000).
Metro
area condominium and cooperative prices — covering changes in 61 metro
areas — showed the national
median existing - condo price was $ 211,000 in the third quarter, up 2.7 percent from the third quarter of 2013 ($ 205,500).
In both metros, 93.3 percent of all new and
existing homes sold in the third quarter were affordable to families earning the
areas»
median incomes of $ 65,100 and $ 65,800, respectively.
The
median existing single - family home price increased in 73 percent of measured markets, with 125 out of 172 metropolitan statistical
areas (MSAs) showing gains based on closings in the third quarter compared with the third quarter of 2013.
In the first quarter of this year, 31 metro
areas showed double - digit annual increases in
median existing - home prices (from a year earlier), while eight posted small drops, NAR figures show.
NOTE: NAR also tracks monthly comparisons of
existing single - family home sales and
median prices for select metropolitan statistical
areas, which is posted with other tables at: www.nar.realtor / research / research / ehsdata.
The most expensive metro
areas by
median existing single - family price in the third quarter were San Jose, Calif. ($ 1,165,000); San Francisco, Calif. ($ 900,000); Anaheim - Santa Ana, Calif. ($ 790,000); urban Honolulu, Hawaii ($ 760,200); and San Diego ($ 607,000).
The most expensive metro
areas by
median existing single - family price in the fourth quarter were: San Jose, Calif. ($ 1,270,000); San Francisco - Oakland - Hayward, Calif. ($ 920,000); Anaheim - Santa Ana - Irvine, Calif. ($ 785,000); urban Honolulu, Hawaii ($ 760,600); and San Diego - Carlsbad, Calif. ($ 610,000).
A breakout of incomes required to purchase a
median - priced
existing single - family home by metro
area shows the typical buyer had more income than necessary in the third quarter.
The five most expensive housing markets in the fourth quarter were the San Jose, Calif., metro
area, where the
median existing single - family price was $ 855,000; San Francisco, $ 742,900; Honolulu, $ 701,300; Anaheim - Santa Ana, Calif., $ 688,500; and San Diego, $ 493,100.
In the condo sector, metro
area condominium and cooperative prices - covering changes in 54 metro
areas - showed the national
median existing - condo price was $ 180,800 in the third quarter, up 7.7 percent from the third quarter of 2011.
Metro
area condominium and cooperative prices — covering changes in 61 metro
areas — showed the national
median existing - condo price was $ 217,400 in the second quarter, up 3.1 percent from the second quarter of 2014 ($ 210,800).
Metro
area condominium and cooperative prices — covering changes in 61 metro
areas — showed the national
median existing - condo price was $ 203,300 in the fourth quarter, up 3.3 percent from the fourth quarter of 2013 ($ 196,900).
Median existing single - family home prices are firming in many metropolitan
areas, while improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors ®.
The five most expensive housing markets in the second quarter were the San Jose, Calif., metro
area, where the
median existing single - family price was $ 980,000; San Francisco, $ 841,600; Anaheim - Santa Ana, Calif., $ 685,700; Honolulu, $ 698,600; and San Diego, $ 547,800.
Of the 135 metropolitan statistical
areas reporting for the first quarter of this year, the most substantial price increase was in Champaign, Ill., where the
median price of an
existing home jumped 18.4 percent to $ 90,600 from the first - quarter 1997
median price of $ 76,500.
The most expensive metro
areas by
median existing single - family price in the second quarter were San Jose, Calif. ($ 1,183,400); San Francisco, Calif. ($ 950,000); Anaheim - Santa Ana, Calif. ($ 788,000); Honolulu, Hawaii ($ 760,600); and San Diego, Calif. ($ 605,000).
WASHINGTON, D.C. — The
median price for
existing homes had double - digit increases in 21 metropolitan
areas during the first quarter of this year, NAR reports.
NAR also publishes key housing statistics on a regular basis, including national and regional
existing - home sales, a pending home sales index, a housing affordability index, and quarterly reports on metropolitan
area housing affordability and
median home prices.
The boom has sent the
median price for an
existing single - family home in the San Jose metropolitan
area, which includes parts of Silicon Valley, to $ 1.27 million — making it the most expensive region in the country, according to the National Association of Realtors.
A quarterly qualifying income report shows the income that is needed to qualify to purchase the
median priced
existing single - family home in each metro
area given a variety of downpayment assumptions.
The most affordable major housing market in the third quarter was Elgin, Ill., where 94.3 percent of all new - and
existing - homes sold were affordable to families earning the
area's
median income ($ 82,500).
The least affordable major housing market, conversely, was San Francisco - Redwood City - South San Francisco, Calif., where 9.7 percent of new - and
existing - homes sold in the third quarter were affordable to families earning the
area's
median income ($ 104,700).
The least affordable minor housing market was Salinas, Calif., where 17.6 percent of new - and
existing - homes sold were affordable to families earning the
area's
median income ($ 63,500).
The
median existing - home price, according to NAR, is expected to grow 4 percent in 2017; of the homeowners surveyed, a wide 91 percent believe prices will stay the same or rise in their community over the next six months — a sentiment felt most among renters and residents in suburban
areas or in the West.
On the demand side, the strong growth in rent mirrors rapid home price appreciation in the metropolitan
area: the
median existing single family home price in Naples has risen by 88 % in the last five years and is the highest in the South at $ 417,800 (compared with the U.S.
median price of $ 231,100).
In Salinas, Calif., which topped the list, 12.4 percent of all new and
existing homes were affordable to families earning the
area's
median income of $ 63,100.
There, 93.3 percent of all new and
existing homes are affordable to families earning the
area's
median income of $ 54,600.
This would have fit in between San Diego and San Francisco, and using our methodology, a reckoning for the salary needed to buy a
median - priced
existing home there would be $ 135,800.56 The metro
area is ranked # 54 in terms of population.
In the second quarter of the year, 100 out of 155 MSAs (metropolitan statistical
areas) had higher
median existing single - family home prices in comparison to the previous year, and 91 for the first quarter.
And home prices have been on the rise: The
median price of an
existing single - family home in the past year rose in 86 percent of the 175 metro
areas tracked, according to the National Association of REALTORS ®.
There, 93.7 percent of all new and
existing homes sold were affordable to families earning the
area's
median household income of $ 71,500 — up slightly from the 93.2 percent of homes affordable to
median - income earners in the third quarter.
In the condo sector, metro
area condominium and cooperative prices — covering changes in 53 metro
areas — showed the national
median existing - condo price was $ 178,000 in the second quarter, up 7.5 percent from the second quarter of 2011.
A breakout of incomes needed to purchase a
median - priced
existing single - family home by metro
area shows the typical buyer has ample income.
«It's most encouraging to see a growing number of metro
areas with rising
median prices, which is improving the equity position of
existing homeowners.
The index showed the most affordable major housing market is: Youngstown - Warren - Boardman, Ohio - Pa., where 91.1 percent of all new and
existing homes sold in the second quarter were affordable to families earning the
area's
median income of $ 53,900.
In the condo sector, metro
area condominium and cooperative prices — covering changes in 54 metro
areas — showed the national
median existing - condo price was $ 167,600 in the third quarter, down 2.2 percent from the third quarter of 2010.
The
median existing single - family home price rose in 39 out of 150 metropolitan statistical
areas1 (MSAs) in the third quarter from a year earlier; 111
areas showed price declines.
Median prices for
existing homes ranged from $ 170,000 in the Boston
area to $ 51,700 in Grand Rapids, Mich., the National Association of Realtors reports.