Home Prices continued higher for most of the metropolitan areas examined in the most recent quarterly report by the National Association of Realtors® (NAR).Median prices for the report were based on closings in the 3rd quarter. The number of MSAs with higher prices increased by 1% from the second quarter and by 7% from the third quarter of 2012–the strongest year-over-year improvement since 2006.
Five most expensive MSAs and the median prices:
1. San Jose, CA $805,000
2. San Francisco, CA $705,000
3. Honolulu, HI $679,800
4. Anaheim-Santa Ana, CA $670,700
5. San Diego, CA $485,000
Five most affordable metro areas and the median price:
1. Toledo, Ohio $87,500
2. Rockford, Ill $88,900
3. Decatur, Ill $91,000
4. Ocala Fla. $103,600
5. Topeka, Kan $106,900
Source: http://www.mortgagenewsdaily.
Thank you to Stewart Sadler at Cornerstone Mortgage for this info.