Home prices rose in most metro areas during the second quarter, fueled by a climb in the number of homes sold, according the National Association of REALTORS.
The median price of an existing single-family home increased in 93 percent of the markets NAR tracks compared to the 2014 second quarter. The national median existing single-family home price in the second quarter was $229,400, up 8.2 percent from the second quarter of 2014 ($212,000).
Total existing-home sales, including single family and condo, increased 6.6 percent to a seasonally adjusted annual rate of 5.30 million in the second quarter, 8.5 percent higher than the 4.89 million pace during the second quarter of 2014.
In the Northeast, existing-home sales increased 8.6 percent compared to the 2014 second quarter, while the median sales price of $269,300 was up 5.2 percent from a year ago.
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