The National Association of REALTORS® quarterly home prices increased again this quarter. Prices continue to drift up this quarter with 90% of the markets showing home price appreciation. We can also look at the top metro areas whose price grew the fastest. Housing affordability is down and for first time buyers qualifying incomes are rising along with the down payment on a new home. Knowing the mortgage rates and the qualifying incomes will help potential homeowners figure out what metro areas are affordable for them. Here is a look at the metro areas with the strongest price growth of the second quarter 2018, as well as a look at the yearly change in median existing single-family home prices for the top five highest and lowest growth metro areas of the second quarter 2018.
These are the top five single-family metro areas with the highest home price appreciation:
These are the bottom five single-family metro areas that had a decline in home price appreciation:
These are the most expensive metro areas for the second quarter 2018:
These are the least expensive metro areas for the second quarter 2018: