CNN reported today that the median price of a home in the U.S. increased by 1.5% last quarter. This is good news for home sellers, but is also good for the real estate market overall. Often times home buyers are ready to purchase a home but are turned off by the uncertain reports surrounding real estate.
Those year-over-year gains were very much in line with expectations, according to Lawrence Yun, the National Association of Realtor’s chief economist. “All year we’ve been seeing relatively flat national home prices, which appear to be supported by market fundamentals,” he said.
San Jose boasted the highest median price increase; it took over the lead that Honolulu held during the first three months of the year. Prices in the Hawaiian city were nearly flat quarter-over-quarter and up 9.1% year–over-year to a median of $621,600.
The report also goes on to mention that U.S. condo prices may have stabilized during the same period. Although condominiums continue to lag single family home sales, prices for condos were up 3% in the first 3 months of the year.
With continued positive movement of home prices, home sales are likely to continue increasing.
Let’s hear about your experience with home prices in the comments section below. We encourage you to leave any home selling tips that are working for you in today’s market.
Bryan Eastman has been active in the Metro Atlanta real estate business for the last 8 years. Several years ago, he and his business partner Stokely Weinberg decided to leave the corporate world to chase their dreams as full time real estate developers. After more than 80 successful projects, they have established themselves as two of the premier players in the intown Atlanta marketplace.
Both Bryan and Stokely are also very active in the community including extensive work with the Boys and Girls Club of Metro Atlanta. Visit 
I’m very thankful for the great interest rates because without them it would be VERY tough to sell anything right now.
Yes I agree Jennifer. The interest rates are really saving us right now. This article is a good sign though about home prices.
Let’s not get too excited. There still don’t seem to be many buyers that are pulling the trigger.
Don’t get too excited over this article. It still is VERY tough going in our market.
I’ve actually would disagree with you Jerry. We’ve had several buyers who have “pulled the trigger” and purchased homes in the last few months. As professionals, we need to do a better job of stressing how important it is for buyers to act now with great deals and historically low interest rates available!
You need to have a more positive attitude Kayla. How can you not sell houses with historically low interest rates and UNBELIEVABLE deals all over the country.
The low rates are most definitely helping in my area. In fact, I know people who have bought bigger homes than they would have if the the rates were higher.
Fingers are crossed this trend will continue.
Condo market in my are is pretty strong. The building makes a huge difference – the nicer, the quicker it sells.