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Prices Ease to Stable Growth

Median price growth improved in 122 of 173 markets in the 2nd quarter of 2014.  Salem, Oregon surged 24.9% on a year-over-year basis followed by Eugene.  With the exception of Lansing and Charlotte, markets in the California, Nevada, and Florida rounded out the top 10 (left, below).

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While the number of markets that experienced year-over-year growth eased from 126 in the 1st quarter to 119 in the 2nd, 23 markets shifted from negative year-over-year growth in the 1st quarter to positive growth in the 2nd.  Smaller markets in the Midwest and South dominated this list, sustaining an expansion of growth or stabilization in the 2nd quarter as the large, coastal markets eased.

Curious how your market has done?  NAR Research recently released Local Market Reports for the 2nd quarter of 2014.  These reports cover market fundamentals of supply and demand for more than 172 metro areas.

 

 

Ken Fears, Director, Regional Economics and Housing Finance

Ken Fears is the Manager of Regional Economics and Housing Finance Policy. He focuses on regional and local market trends found in the Local Market Reports and the Market Watch Reports . He also writes on developments in the mortgage industry and foreclosures.

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