From GlobeNewswire: 2025-02-06 10:00:00

In the fourth quarter of 2024, 89% of metro areas saw an increase in single-family existing-home sales prices, with the national median price rising to $410,100, a 4.8% increase from the previous year. The South had the largest share of sales at 45.1%, with the Northeast, Midwest, and West also experiencing price appreciation. Affordability slightly improved, with the monthly mortgage payment on a typical single-family home with a 20% down payment at $2,124, down 1.7% from a year ago. First-time buyers also saw improved affordability, with a monthly payment of $2,083 for a starter home. The National Association of Realtors (NAR) has released a list of counties included in Metropolitan Statistical Area (MSA) definitions. Regional median home prices, which include rural areas and smaller metros not in the report, show changes from the previous year. Seasonal buying patterns impact comparisons, with quarter-to-quarter data not reflecting these changes. Median price measurements can be skewed by types of homes sold, like discounted distressed sales. NAR has tracked metro area median home prices since 1979. The seasonally adjusted annual rate for a quarter shows the projected total sales for a year if that pace is maintained. Total home sales cover various housing types.



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