Median single-family existing-home prices rose in about 20 percent of the 149 markets tracked by the National Association of Realtors in fourth-quarter 2011 compared to the same quarter in the previous year, and Florida and Texas are home to nine of the 29 metros with positive growth.
Nationally, the U.S. median single-family existing-home price fell 4.2 percent year over year in fourth-quarter 2011, to $163,500. Real estate owned (REO) and short-sale properties accounted for 30 percent of home sales in fourth-quarter 2011, down from 34 percent in fourth-quarter 2010, the association also reported.
The median price rose 25.6 percent year over year in the fourth quarter in the Cape Coral-Fort Myers, Fla., metro area, to $108,000 -- it was the highest increase among the 149 metros featured in NAR's latest report, released today.
Top 10 Markets with Largest Percentage Increase in Median Single-family Existing-home Prices (Q4 2010-Q4 2011)
Cape Coral-Fort Myers, Fla. 25.58% Abilene, Texas 15.99% Yakima, Wash. 11.4% Kankakee-Bradley, Ill. 10.01% Grand Rapids, Mich. 9.83% Palm Bay-Melbourne-Titusville, Fla. 8.3% Waterloo/Cedar Falls, Iowa 6.4% Bismarck, N.D. 5.32% South Bend-Mishawaka, Ind. 4.3% Spartanburg, S.C. 4.12%
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