The National Association of Realtors (NAR) released the results of their 3rd quarter 2013 Metropolitan Median Area Prices and Affordability Report this week. Of the 163 metropolitan statistical areas (MSAs) the NAR analyzed, 144 MSAs (88%) saw home price appreciation gains in the 3rd quarter this year compared to the 3rd quarter 2012. “Fifty-four areas, 33 percent, had double-digit increases, while 19 had price declines.” Home price appreciation in the Boise City-Nampa MSA grew by 15.3% in the 3rd quarter 2013 compared to the same time last year while the median home price reached $168,400. To view the NAR’s interactive map containing data for the other MSAs included in their report, go to http://bit.ly/1gunlnj.
Existing-home sales rose in all four regions in the 3rd quarter, both on a quarterly basis and on an annual basis. The West region’s existing-home sales were 3.6% greater in the 3rd quarter than the 2nd quarter and rose 8.6% over the 3rd quarter 2012. Inventory remained tight in the region, causing the median home price to rise by 17% compared to a year ago with the median single-family home price reaching $289,100. Read more at http://bit.ly/17b2nBx.