Home prices slowly creeping up

By Les Christie, staff writer


NEW YORK (CNNMoney.com) -- The weak economy and continued high unemployment has kept housing markets cool. As a result, the median price of a single-family home crept up just 1.5% to $176,900 in the second quarter, according to a report released Wednesday by the National Association of Realtors.

Those year-over-year gains were very much in line with expectations, according to Lawrence Yun, NAR's chief economist.

"All year we've been seeing relatively flat national home prices, which appear to be supported by market fundamentals," he said. "We don't expect any consequential movement in home prices for the foreseeable future," said Yun.

The biggest year-over-year gains were in an odd mix of cities. Akron, Ohio, for example, an old city where foreclosures are rampant and home prices low, had the biggest gain. Prices there jumped 36% to $119,700.

San Jose, Calif., prices soared 26% to $630,000; San Francisco was nearly as strong, up 25% to $591,200; and prices in Riverside, Calif., a particularly hard-hit foreclosure market, were up 17.8% to $190,200.

The worst performer was Cumberland, Md., where prices tumbled 15.4% to $104,500. Other big losers were Tucson, Ariz., down 13.7% to $150,200; and Ocala, Fla., off 13% to $95,900.

San Jose boasted the highest median price; it took over the lead that Honolulu held during the first three months of the year. Prices in the Hawaiian city were nearly flat quarter-over-quarter and up 9.1% year--over-year to a median of $621,600.

Condo report card

The condo market may have finally stabilized during the quarter, although it continued to lag single-family homes. Condo prices were up 3% compared with the first three months of the year but down 0.5% from the same period a year earlier.

One of the worst condo markets, Jacksonville, Fla., continued to find new bottoms. Prices there have fallen a whopping 42% in the past 12 months to $63,600. That includes a stiff 20.2% drop in the second quarter alone. Reno, Nev., prices fell almost as far, 33.9% to $68,200.

The biggest gains were made in markets not usually closely associated with a big supply of condos, such as Trenton, N.J., where condo prices are up 11.5% compared with 12 months ago to $221,600. Syracuse, N.Y., condos jumped 11.2% of the same period to $130,600 and Columbus, Ohio, prices also made double-digit improvement, 10.7% to $130,700. To top of page

NAR 2nd quarter 2010 home prices
Untitled Document
Metro Area State Median home price
2nd Quarter
Percent change from
2nd Quarter 2009
Akron OH $119,700 36.0%
Albany-Schenectady-Troy NY $194,300 2.6%
Albuquerque NM $177,900 -2.4%
Allentown-Bethlehem-Easton PA-NJ $227,200 0.7%
Amarillo TX $127,200 -0.1%
Anaheim-Santa Ana CA $504,500 7.8%
Appleton WI $120,000 5.4%
Atlanta-Sandy Springs-Marietta GA $122,700 1.1%
Atlantic City NJ $224,400 2.6%
Austin-Round Rock TX $196,600 1.3%
Baltimore-Towson MD $251,600 -0.6%
Barnstable Town MA $334,900 2.9%
Baton Rouge LA $170,400 1.1%
Beaumont-Port Arthur TX $120,700 -12.9%
Binghamton NY $110,800 -5.9%
Birmingham-Hoover AL $146,500 -3.8%
Bismarck ND $163,100 3.4%
Bloomington-Normal IL $160,800 5.1%
Boise City-Nampa ID $140,100 -12.7%
Boston-Cambridge-Quincy MA-NH** $360,200 7.2%
Boulder CO $352,400 3.6%
Bridgeport-Stamford-Norwalk CT $419,400 10.3%
Buffalo-Niagara Falls NY $121,400 5.2%
Canton-Massillon OH $111,500 9.9%
Cape Coral-Fort Myers FL $94,100 12.0%
Cedar Rapids IA $145,300 2.5%
Champaign-Urbana IL $142,500 1.1%
Charleston WV $197,500 -0.4%
Charleston-North Charleston SC $132,000 0.6%
Charlotte-Gastonia-Concord NC-SC $199,100 -0.3%
Chattanooga TN-GA $125,700 Unch
Chicago-Naperville-Joliet IL $203,800 -0.2%
Cincinnati-Middletown OH-KY-IN $131,100 1.2%
Cleveland-Elyria-Mentor OH $118,200 11.5%
Colordo Springs CO $196,800 4.1%
Columbia MO $147,300 2.1%
Columbia SC $142,100 3.0%
Columbus OH $149,700 9.6%
Corpus Christi TX $135,500 1.6%
Cumberland MD-WV $104,500 -15.4%
Dallas-Fort Worth-Arlington TX $134,700 2.1%
Danville IL N/A N/A
Davenport-Moline-Rock Island IA-IL $113,500 0.3%
Dayton OH $112,400 5.5%
Decatur IL $96,000 5.1%
Deltona-Daytona Beach-Ormond Beach FL $117,000 -8.0%
Denver-Aurora CO $234,700 4.9%
Des Moines IA $156,200 4.1%
Detroit-Warren-Livonia MI N/A N/A
Dover DE $196,300 1.3%
Durham NC $186,400 0.5%
Elmira NY $99,200 16.7%
El Paso TX $133,800 1.5%
Erie PA $110,200 12.3%
Eugene-Springfield OR $201,600 -0.4%
Fargo ND-MN $141,600 0.3%
Farmington NM $174,800 -7.3%
Florence SC $122,500 6.1%
Ft. Wayne IN $103,300 9.2%
Gainesville FL $172,900 -3.0%
Gary-Hammond IN $127,000 10.3%
Glens Falls NY $148,300 -2.7%
Grand Rapids MI $93,000 7.5%
Green Bay WI $133,800 -5.3%
Greensboro-High Point NC $134,200 -5.4%
Greenville SC $149,600 6.9%
Gulfport-Biloxi MS $128,500 -7.4%
Hagerstown-Martinsburg MD-WV $149,800 -9.2%
Hartford-West Hartford-East Hartford CT $236,000 0.8%
Honolulu HI $621,600 9.1%
Houston-Baytown-Sugar Land TX $155,900 -1.0%
Indianapolis IN $129,900 6.0%
Jackson MS $137,900 -1.6%
Jacksonville FL $139,000 -9.0%
Kalamazoo-Portage MI N/A N/A
Kankakee-Bradley IL $126,500 -4.3%
Kansas City MO-KS $150,600 4.5%
Kennewick-Richland-Pasco WA $173,100 5.6%
Kingston NY $208,200 0.6%
Knoxville TN $143,500 -0.8%
Lansing-E.Lansing MI $92,100 13.4%
Las Vegas-Paradise NV $142,300 0.4%
Lexington-Fayette KY $144,200 1.1%
Lincoln NE $134,200 0.8%
Little Rock-N. Little Rock AR $132,800 -1.3%
Los Angeles-Long Beach-Santa Ana CA $339,900 9.3%
Louisville KY-IN $136,400 2.8%
Madison WI $213,200 -0.5%
Manchester-Nashua NH $241,000 8.3%
Memphis TN-MS-AR $127,200 5.0%
Miami-Fort Lauderdale-Miami Beach FL $214,200 3.3%
Milwaukee-Waukesha-West Allis WI $200,200 4.5%
Minneapolis-St. Paul-Bloomington MN-WI $176,200 -4.5%
Mobile AL $129,500 0.5%
Montgomery AL $129,200 -3.7%
NY: Edison NJ N/A N/A
NY: Nassau-Suffolk NY $237,800 0.7%
NY: Newark-Union NJ-PA $161,900 -2.4%
Nashville-Davidson--Murfreesboro TN $393,900 3.7%
New Haven-Milford CT $443,800 4.4%
New Orleans-Metairie-Kenner LA $345,800 4.3%
New York-Northern New Jersey-Long Island NY-NJ-PA $395,100 2.1%
New York-Wayne-White Plains NY-NJ $386,500 1.9%
Norwich-New London CT $224,000 3.6%
Ocala FL $95,900 -13.0%
Oklahoma City OK $149,900 7.5%
Omaha NE-IA $138,800 2.9%
Orlando FL $140,200 -6.0%
Palm Bay-Melbourne-Titusville FL $117,300 12.7%
Pensacola-Ferry Pass-Brent FL $143,100 -3.2%
Peoria IL $123,300 -2.2%
Philadelphia-Camden-Wilmington PA-NJ-DE-MD $223,200 5.8%
Phoenix-Mesa-Scottsdale AZ $144,700 10.4%
Pittsburgh PA $126,600 1.9%
Pittsfield MA $192,300 1.7%
Portland-South Portland-Biddeford ME $217,400 3.8%
Portland-Vancouver-Beaverton OR-WA $238,500 -3.1%
Providence-New Bedford-Fall River RI-MA $224,700 4.2%
Raleigh-Cary NC $223,700 5.9%
Reading PA $155,600 2.4%
Reno-Sparks NV $180,300 -6.1%
Richmond VA $199,600 -3.5%
Riverside-San Bernardino-Ontario CA $190,200 17.8%
Rochester NY $121,400 1.9%
Rockford IL $109,000 -3.9%
Sacramento--Arden-Arcade--Roseville CA $192,200 8.3%
Saginaw-Saginaw Township North MI $59,700 7.2%
Saint Louis MO-IL $143,100 7.1%
Salem OR $176,800 -7.5%
Salt Lake City UT $207,300 -4.2%
San Antonio TX $148,200 -3.2%
San Diego-Carlsbad-San Marcos CA $392,600 13.1%
San Francisco-Oakland-Fremont CA $591,200 25.0%
San Jose-Sunnyvale-Santa Clara CA $630,000 26.0%
Sarasota-Bradenton-Venice FL $184,600 5.0%
Seattle-Tacoma-Bellevue WA $307,300 -6.4%
Shreveport-Bossier City LA $155,900 6.8%
Sioux Falls SD $141,400 -3.2%
South Bend-Mishawaka IN $95,900 8.9%
Spartanburg SC $121,300 -1.1%
Spokane WA $171,400 -3.6%
Springfield IL $123,600 6.4%
Springfield MA $189,200 -0.2%
Springfield MO $112,400 -5.7%
Syracuse NY $125,300 0.6%
Tallahassee FL $142,300 -5.0%
Tampa-St.Petersburg-Clearwater FL $141,400 0.4%
Toledo OH $90,900 4.4%
Topeka KS $109,600 -3.3%
Trenton-Ewing NJ $259,300 2.0%
Tucson AZ $150,200 -13.7%
Tulsa OK $133,200 Unch
Virginia Beach-Norfolk-Newport News VA-NC $210,000 -2.8%
Washington-Arlington-Alexandria DC-VA-MD-WV $331,600 3.9%
Waterloo/Cedar Falls IA $115,300 8.1%
Wichita KS $122,500 -2.2%
Worcester MA $235,000 6.7%
Yakima WA $154,500 -5.1%
Youngstown-Warren-Boardman OH-PA $75,100 5.0%
U.S.   $176,900 1.5%
NE   $238,000 -3.2%
MW   $148,500 1.4%
SO   $155,500 -2.0%
WE   $219,700 2.6%
Note1: California prices provided by the California Association of REALTORS®
*All areas are metropolitan statistical areas (MSA) as defined by the US Office of Management and Budget as of 2004. They include the named central city and surrounding areas. N/A Not Available p Preliminary r Revised
Most current data available
© 2008 National Association of REALTORS®
Metro Area State Median Price
2Q 2009
% Change
(1-yr)
Albuquerque NM $145,500 -2.5%
Atlanta-Sandy Springs-Marietta GA N/A N/A
Austin-Round Rock TX $158,600 1.2%
Baltimore-Towson MD $197,000 -6.5%
Bismarck ND $128,500 2.0%
Boston-Cambridge-Quincy MA-NH $290,100 4.6%
Boulder CO $200,000 -2.0%
Bridgeport-Stamford-Norwalk CT $247,100 5.9%
Cape Coral-Fort Myers FL $118,900 2.0%
Chicago-Naperville-Joliet IL $186,300 -8.1%
Cincinnati-Middletown OH-KY-IN $121,500 8.7%
Cleveland-Elyria-Mentor OH N/A N/A
Colorado Springs CO $135,600 -4.8%
Columbus OH $130,700 10.7%
Dallas-Fort Worth-Arlington TX $135,300 -1.8%
Greensboro-High Point NC N/A N/A
Hartford-West Hartford-East Hartford CT $164,400 -3.2%
Honolulu HI $311,600 -2.1%
Houston-Baytown-Sugar Land TX $133,100 -3.3%
Indianapolis IN $115,500 0.4%
Jacksonville FL $63,600 -42.0%
Knoxville TN $142,200 1.4%
Las Vegas-Paradise NV $68,000 2.4%
Los Angeles-Long Beach-Santa Ana CA $230,600 7.8%
Louisville KY-IN $122,200 5.4%
Madison WI $147,600 -2.8%
Manchester-Nashua NH $165,600 7.8%
Miami-Fort Lauderdale-Miami Beach FL $97,000 -7.7%
Milwaukee-Waukesha-West Allis WI $158,600 0.8%
New Haven-Milford CT $165,000 -4.8%
New Orleans-Metairie-Kenner LA $175,700 -4.0%
Norwich-New London CT $155,300 -8.2%
New York-Wayne-White Plains NY-NJ $254,400 -1.5%
NY: Newark-Union NJ-PA $276,800 0.1%
NY:Edison NJ $263,700 3.8%
NY:Nassau-Suffolk NY $235,600 -0.3%
Palm Bay-Melbourne-Titusville FL $112,500 -13.0%
Philadelphia-Camden-Wilmington PA-NJ-DE-MD $188,800 -2.9%
Phoenix-Mesa-Scottsdale AZ $87,500 -15.9%
Portland-South Portland-Biddeford ME $192,400 1.3%
Portland-Vancouver-Beaverton OR-WA $176,500 -10.0%
Providence-New Bedford-Fall River RI-MA $180,100 -0.8%
Reno-Sparks NV $68,200 -33.9%
Richmond VA N/A N/A
Riverside-San Bernardino-Ontario CA N/A N/A
Rochester NY $117,200 1.4%
Sacramento--Arden-Arcade--Roseville CA $95,000 -6.1%
Salt Lake City UT $155,700 -0.8%
San Diego-Carlsbad-San Marcos CA $225,600 9.8%
San Francisco-Oakland-Fremont CA $404,800 -0.2%
Sarasota-Bradenton-Venice FL $175,800 -1.0%
Springfield MA $149,600 3.8%
Syracuse NY $130,600 11.2%
Tampa-St. Petersburg-Clearwater FL $110,300 2.0%
Toledo OH $128,100 1.9%
Trenton-Ewing NJ $221,600 11.5%
Tucson AZ N/A N/A
Virginia Beach-Norfolk-Newport News VA-NC $191,000 -2.1%
Washington-Arlington-Alexandria DC-VA-MD-WV $248,400 1.5%
Wichita KS $93,500 -14.6%
Worcester MA $174,400 8.7%
U.S.   $175,700 -0.5%
NE   $241,900 2.7%
MW   $155,600 -2.0%
SO   $124,000 -5.9%
WE   $163,600 0.6%
*All areas are metropolitan statistical areas (MSA) as defined by the US Office of Management and Budget as of 2004.
** Boston-Cambridge-Quincy, MA-NH - Data from New Hampshire not available
They include the named central city and surrounding areas. N/A Not Available p Preliminary r Revised
© 2008 National Association of REALTORS®
State Total Sales % Change
(1-yr)
ALABAMA $83,200 17.5%
ALASKA $27,200 30.8%
ARIZONA $157,200 4.5%
ARKANSAS $70,000 19.9%
CALIFORNIA $472,800 -0.6%
COLORADO $101,600 14.4%
CONNECTICUT $55,600 32.4%
DELAWARE $14,000 16.7%
District of Columbia $10,400 36.8%
FLORIDA $405,600 23.8%
GEORGIA $172,800 5.9%
HAWAII $22,800 39.0%
IDAHO $36,000 34.3%
ILLINOIS $204,800 27.4%
INDIANA $115,600 6.1%
IOWA $70,800 34.1%
KANSAS $62,400 23.8%
KENTUCKY $87,200 30.5%
LOUISIANA $60,800 15.2%
MAINE $26,400 29.4%
MARYLAND $86,000 29.5%
MASSACHUSETTS $126,000 35.2%
MICHIGAN $162,000 -0.5%
MINNESOTA $112,000 6.1%
MISSISSIPPI $46,000 22.3%
MISSOURI $109,200 13.3%
MONTANA $23,200 18.4%
NEBRASKA $40,000 20.5%
NEVADA $93,200 -6.4%
NEW HAMPSHIRE $21,200 20.5%
NEW JERSEY $138,900 29.9%
NEW MEXICO $35,600 21.9%
NEW YORK $296,000 19.4%
NORTH CAROLINA $162,400 31.4%
NORTH DAKOTA $16,400 51.9%
OHIO $278,400 21.7%
OKLAHOMA $85,600 7.0%
OREGON $62,400 33.3%
PENNSYLVANIA $195,200 33.0%
RHODE ISLAND $15,600 14.7%
SOUTH CAROLINA $84,800 26.9%
SOUTH DAKOTA $18,400 17.9%
TENNESSEE $119,600 18.2%
TEXAS $476,000 14.8%
UTAH $33,600 16.7%
VERMONT $12,400 29.2%
VIRGINIA $118,400 6.1%
WASHINGTON $96,800 33.0%
WEST VIRGINIA $28,400 16.4%
WISCONSIN $93,600 19.4%
WYOMING $8,800 4.8%
United States $5,607,000 17.3%
Northeast $980,000 23.6%
Midwest $1,297,000 20.9%
South $2,100,000 18.8%
West $1,230,000 7.6%
N/A Not Available r Revised p Preliminary
© 2008 National Association of REALTORS®
Note: State will not add up to national/regional totals due to independent samples.

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