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Four in Five Metro Areas Notched Double-Digit Price Gains in Second Quarter of 2022

WASHINGTON (August 11, 2022) – Despite escalating mortgage rates and slumping home sales in the second quarter of 2022, a greater number of markets experienced double-digit annual price gains compared to the prior quarter, according to the National Association of REALTORS®' latest quarterly report. Eighty percent of the 185 tracked metro areas posted double-digit price gains, up from 70% in the first quarter of this year.

Nationally, the median single-family existing-home price eclipsed $400,000 for the first time, rising 14.2% from one year ago to $413,500. Year-over-year price appreciation eased slightly compared to the previous quarter's 15.4%.

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