The median existing single-family home price in the nation’s major metropolitan areas rose 3.9 percent year-over-year in the first quarter of 2019, to $254,800, according to the latest data from the National Association of Realtors (NAR).
The increase is slightly less than the previous quarter’s 4 percent year-over-year increase, according to the new data, released Tuesday.
Prices rose in 86 percent of the metropolitan areas NAR tracks, with 13 metro areas experiencing double-digit increases.
“Homeowners in the majority of markets are continuing to enjoy price gains, albeit at a slower rate of growth,” NAR Chief Economist Lawrence Yun said in a statement. “A typical homeowner accumulated $9,500 in wealth over the past year.”