Median Home Prices Ascend To Record High
The median price of single-family homes in the nation has hit a record high of $266,000 in the second quarter of 2019, according to a recent report.
Not only is this a 6.4% increase from 2018, HousingWire also revealed that it is a 10.8% jump from the previous quarter.
"Those with the greatest increases were Atlantic City, New Jersey (up 16%); Boise City, Idaho (up 14%); Chattanooga, Tennessee (up 13.9%); Mobile, Alabama (up 11.2%); and Madison, Wisconsin (up 10.8%)," according to the report.
An impressive 74% of metros across the U.S. saw median home prices increase beyond pre-recession peaks. The report also cites a dip in mortgage rates as one of the reasons behind the increase in the median price for single-family homes.
To learn more about the record media price for single-family homes, click on the image above.