BELOW SUPERNAV drop zone ⇩

Study: Home prices have spiked in 183 of 184 US markets

In this file photo, the exterior of a house with a pending home sale sign is viewed in Palo Alto, Calif. (AP Photo/Paul Sakuma, File)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

AUTO TEST CUSTOM HTML 20241114185800

(TheRealDeal) — The hot housing market is not a local phenomenon anywhere in the United States, as almost all major metros have seen a double-digit jump in home prices.

In 94 percent of markets examined by the National Association of Realtors, the median price of an existing single-family home was at least 10 percent higher in the second quarter than a year ago. The median for all 183 markets rose 23 percent from last year to an all-time high of $357,900, according to the Los Angeles Daily News.

In the first quarter, 89 percent of markets had seen the median price rise by double figures over a year.

Low mortgage rates and a low number of listings are fueling the rise in home prices. In 12 metro areas, the median price surged more than 30 percent from the previous year, led by a 47 percent rise in Pittsfield, Massachusetts.

In the New York metro area, the median home price jumped 33 percent, among the 10 biggest gains in the U.S. The increase was 29 percent in Los Angeles, 28 percent in Miami and 23 percent in Chicago.

Only one metro area studied failed to see an increase: Springfield, Illinois, down 7 percent.

U.S.

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Clear

la

59°F Clear Feels like 59°
Wind
4 mph SW
Humidity
83%
Sunrise
Sunset

Tonight

Some clouds. Slight chance of a rain shower. Low 52F. Winds WSW at 5 to 10 mph.
52°F Some clouds. Slight chance of a rain shower. Low 52F. Winds WSW at 5 to 10 mph.
Wind
6 mph WSW
Precip
15%
Sunset
Moon Phase
Waxing Gibbous