On Wednesday, the National Association of Realtors will release its NAR Q2 Metro Home Prices Report, covering quarterly median single-family price data for approximately 175 Metropolitan Statistical Areas (MSAs).
The previous Q1 2020 report found a median year-over-year single-family home price increase of 96%. According to that report, the national median existing single-family home price in Q1 2020 was $274,600. This was an increase of 7.7% over Q1 2019 ($254,900). The NAR report found double-digit price increases in 46 different metros, mostly clustered in Western and Southern regions.
Lawrence Yun, NAR's Chief Economist, said at the time, “The first quarter price jumps mostly reflect conditions prior to the coronavirus outbreak and show the strength of the housing demand prior to the pandemic. Even now, due to very limited listings, home prices are showing no signs of buckling.”
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