WASHINGTON – Nearly all of the nation’s metro areas saw price growth and had minimal inventory increases in the first quarter of 2020, according to the latest quarterly report by the National Association of Realtors.
Median single-family home prices increased year-over-year in 96% of measured markets in the first quarter, with 174 of 181 metropolitan statistical areas showing sales price gains. It is an increase from the 94% share seen in the fourth quarter of 2019. The national median existing single-family home price in the first quarter of 2020 was $274,600, up 7.7% from the first quarter of 2019 at $254,900.
Forty-six metros, mostly in the West and South regions, saw prices increase by double-digits. These areas include Boise City, Idaho, at 18.1%; Eugene, Oregon, at 14