Weekly Real Estate News
Home prices were on the rise during in March, but the rate of price increases slowed for the third consecutive month.
According to new data from Homes.com, a division of CoStar Group (NASDAQ: CSGP), year-over-year price increases totaled 2.2% in March, 2.7% in February, and 3.6% in January. In dollar terms, the median home price went up $8,000 from March 2024 to last month, an increase from $372,000 to $380,000.
Prices have increased for 21 consecutive months, with price appreciation peaking at 5.6% in December.
Of the 10 markets with the largest price increases, four were in the Northeast, and four were in the Midwest. Cleveland led the way, with prices rising more than 10% in the past year. Four markets saw price declines in March, with three markets – Orlando, Jacksonville and Tampa – in Florida. San Francisco was the only non-Florida market with price declines.
