Thursday, February 10, 2022

National single family home prices continued to rise 4th Quarter, 2021


Locally we have felt meteoric rise in single family home price and cage match competition to buy a house. That said Chicago area is NOT among the highest price gains nationally! All photos Eric Rojas, Broker, Kale Realty

Many of our Chicago area clients can sell their homes quickly for a net profit... but where to move? Single family home prices across the country continued to make gains in most of the country 4th Quarter 2021

Here's some of the latest from the National Association of Realtors on 183 Metro areas:

- 4th Quarter 2021 prices continued to rise nationally (although slower) and over-all affordability dropped.
- 67% of markets had a double-digit median price increase (down from 78% in the prior Quarter)
-The most expensive US markets had the largest percentage price gains.
-The median price of a house across 183 metro areas in 4th Quarter of 2021 was $361,700

Metros in the Sunbelt and Mountain states topped the list of areas with the highest yearly price gains: 
Punta Gorda, Fla. (28.7%); Ocala, Fla. (28.2%); Austin-Round Rock, Texas (25.8%); Phoenix-Mesa-Scottsdale, Ariz. (25.7%); Sherman-Denison, Texas (25.1%); Tucson, Ariz. (24.9%); Las Vegas-Henderson-Paradise, Nev. (24.7%); Ogden-Clearfield, Utah (24.7%); Salt Lake City, Utah (24.4%); and Boise City-Nampa, Idaho (24.3%).

The top 10 most expensive markets in the fourth quarter witnessed prices surge, with nine of them doing so by double-digit percentages:
California led the way with five metros in the top 10, along with five other areas, including: San Jose-Sunnyvale-Sta. Clara, Calif. ($1,675,000; 19.6%); San Francisco-Oakland-Hayward, Calif. ($1,310,000; 14.9%); Anaheim-Santa Ana-Irvine, Calif. ($1,150,000; 23%); Urban Honolulu, Hawaii ($1,054,500; 16.8%); San Diego-Carlsbad, Calif. ($845,000; 14.2%); Los Angeles-Long Beach-Glendale, Calif. ($797,900; 15.9%); Boulder, Colo. ($775,100; 17.2%); Seattle-Tacoma-Bellevue, Wash. ($700,000; 13.9%); Naples-Immokalee-Marco Island, Fla. ($685,000; 21.2%); and Nassau County-Suffolk County, N.Y. (644,600; 9%).

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