Feb 7 2018 37430 1

Dated: 02/07/2018

Views: 43

NEW YORK – Feb. 6, 2018 – Strong demand and low inventories fueled home prices to record highs in 2017. The median home price in the U.S. reached $235,000, up 8.3 percent from 2016, according to real estate data firm ATTOM Data Solutions.

Still, annual price appreciation showed signs of slowing; in 2016, the national median home price jumped 8.5 percent year over year, according to ATTOM's latest housing report.

Sixty-four of 112 metros (57 percent) set a new record for metro-level home prices in 2017, including Los Angeles, Dallas, Houston, Atlanta, and San Francisco. Among 112 metros, each with populations of 200,000 or more, the cities with the biggest year-over-year price increases were Ocala, Fla. (up 14.3 percent); Kansas City, Mo. (13.4 percent); San Jose, Calif. (13.3 percent); Salem, Ore. (12.9 percent); and Nashville, Tenn. (12.5 percent).

Among major metro areas with populations of at least 1 million, the cities that posted double-digit gains included Las Vegas (up 12.3 percent); Salt Lake City (10.9 percent); Seattle (10.8 percent); Orlando, Fla. (10.7 percent); Tampa-St. Petersburg, Fla. (10.7 percent); Portland, Ore. (10.5 percent); and Jacksonville, Fla. (10.1 percent).

Miami-Fort Lauderdale-West Palm Beach also ranked in the 1-million-plus category, with the area's 2017 price rise at 8.9 percent.

© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688

Blog author image

Team H and L Miami

Team H&L Miami @ Real Estate Empire Group is a fast growing boutique Real Estate firm established in 2001. It began to revolutionize property sales as well as marketing through brokers, agents, and an....

Latest Blog Posts

Jul 22 2018 37430 1

House Hunting Survival TipsPosted byTeam H&L Miami @Real Estate Empireon7/22/2018Searching for a new house that will meet your needs without breaking your budget can sometimes feel overwhelming!

Read More

Jul 21 2018 37430 1

Luxe Must-Have Bathroom Trends You Need Right NowPosted byTeam H&L Miami @Real Estate Empireon7/20/2018The bathroom is a room of sanctuary in the home. It is the one room where, for the most part,

Read More

Jul 15 2018 37430 1

Do You Need An Appraisal Contingency?Posted byTeam H&L Miami @Real Estate Empireon7/15/2018Once you have signed the purchase and sales agreement, the property will be appraised by a licensed

Read More

Jul 13 2018 37430 1

Is It Worthwhile to Invest in Home Improvements? Posted byTeam H&L Miami @Real Estate Empireon7/11/2018For a home seller who wants to maximize his or her house sale earnings, it may be beneficial

Read More