Say it isn’t so.
According to a report released Tuesday by RealtyTrac, the median sales price of a home in the U.S. was $195,000 in September — up 15% from September 2013. September was the 30th consecutive month where U.S. median home prices increased on an annual basis, and the 15 percent annual increase is the LARGEST annual percentage increase since October 2005
Daren Blomquist, vice president of RealtyTrac, said “Median home prices nationally in September were boosted by a new low in the share of distressed sales during the third quarter, resulting in fewer home sales on the lower end,”
He added that “Some of the biggest increases in median prices are in markets in the Midwest, Southeast and Inland California, where home prices are still considered a relative bargain for both investors and owner-occupant buyers,”
5 real estate markets with the largest annual home price jumps
Of course not all markets look like Detroit. In fact, in more than half of the 102 metro areas examined by RealtyTrac, median home prices increased less than 10% from a year ago.