Nearly every single metro area in the United States saw home prices once again rise annually in the fourth quarter of 2019, according to the latest statistical release by the National Association of Realtors (NAR).

Overall, the median existing single-family home in the nation’s metro areas was $274,000 in the fourth quarter of 2019, a 6.6 percent year-over-year increase.

“It is challenging— especially for those potential buyers — where we have a good economy, low-interest rates and a soaring stock market, yet are finding very few homes available for sale,” NAR Chief Economist Lawrence Yun said in a statement. “We saw prices increase during every quarter of 2019 above wage growth.”

Home prices increased annually in 170 of 180 metro areas, or 94 percent. In Trenton, New Jersey; Boise City-Nampa, Idaho; Gulfport-Biloxi, Mississippi; Kingston, New York and Albuquerque, New Mexico, prices rose double digits.

“Rising home values typically create wealth gains for existing homeowners as shown in NAR’s latest study, however, areas that are deemed ‘too expensive’ will obviously have trouble attracting residents and companies looking to do business there,” Yun said. “We need a good balance that benefits both current and future homeowners, but right now, the balance is still in favor of home sellers.”

At the end of the fourth quarter, average inventory supply in the nation’s metros was 3.5 months supply, down from 4 months supply at the end of the fourth quarter of 2018.

Email Patrick Kearns

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×