New Housing Data Reaffirms a Strengthening Market

The calendar might tell us that today is the somber Ash Wednesday observance, but there was still a bit of Mardi Gras-level felicity to be found in today’s housing market data. The National Association of Realtors (NAR) determined that an average of 89 percent of measured metro areas saw increasing home prices during 2015, an increase from 83 percent in 2014 and 88 percent in 2013.

The national median existing single-family home price in the fourth quarter of 2014 was $222,700, up 6.9 percent the $208,400 of a year earlier. The national median existing single-family home price in the fourth quarter was $222,700, up 6.9 percent from the fourth quarter of 2014 ($208,400). And while total existing-home sales declined 5.4 percent to a seasonally adjusted annual rate of 5.18 million in the fourth quarter, it was still 2.4 percent higher than the fourth quarter of 2014.

NAR also reported that the median existing single-family home price increased in 81 percent of nearly 1,800 measured markets in a year-over-year measurement, while only 34 areas (19 percent) recorded lower median prices from a year earlier.

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