Monday, August 15, 2011
What Goes Up Must Come Down
The National Association of Realtors (NAR) reported the median sale price for existing single-family homes fell 2.8% in Q2 compared to a year ago. Yet 41 metro areas saw price gains, up from 34 in Q1. The NAR's chief economist said, "Median home prices have been moving up and down in a relatively narrow range in many markets, which shows a stabilization trend." Another survey showed two-thirds of the markets reported bigger price gains in Q2 versus Q1.