Tags: home | price | housing | realtors

Home Price Gains Slow in Most US Cities, Realtors Group Says

Tuesday, 12 Aug 2014 10:54 AM

 

Home price gains moderated in most of the U.S. in the second quarter as appreciation reached its slowest pace since 2012.

The median price fell from a year earlier in 47 of 173 metropolitan areas measured, the National Association of Realtors said in a report. Eleven percent of areas had double-digit increases, compared with 37 in the previous quarter.

Home-price appreciation is moderating as more listings come on the market and buyer demand slows. The inventory of previously owned homes for sale rose 6.5 percent in June from a year earlier to 2.3 million, according to the Realtors group. That’s up from a 13-year low of 1.8 million in January 2013.

“We’re entering this next phase of recovery where we shift down a gear to a more sustainable pace,” Paul Diggle, U.S. property economist for Capital Economics Ltd. in London, said in a phone interview before the data were released.

“It’s not something to worry about — it’s something to be welcomed. It means price gains are at a more sustainable footing that is more in line with income growth.”

The median price for an existing single-family house in the three months through June was $212,400, up 4.4 percent from the second quarter of 2013. The median price during the first quarter rose 8.3 percent from a year earlier.

© Copyright 2015 Bloomberg News. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

CEI's Carrie Sheffield: Govt Suit Against S&P a 'Chilling Precedent'

Friday, 30 Jan 2015 21:27 PM

The government's case against Standard & Poor's over its rating of home mortgage bonds prior to the 2008 financial crisi . . .

FBT's Tom Hutchinson: Recession to Put Us in 'Deeper Hole'

Friday, 30 Jan 2015 20:44 PM

The U.S. economy is in great shape now, but the next recession won't be pretty, Tom Hutchinson, the senior editor of the . . .

Kudlow: After Romney, a GOP Message of Incentives and Growth

Friday, 30 Jan 2015 20:20 PM

If there’s anything the GOP needs , besides a winner , it’s a confident, incentive-based, pro-growth message. The party  . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved