By almost any measure, housing prices across the country have been rebounding in 2010. One leading measure of U.S. home prices, the Standard & Poor’s/Case Shiller monthly 20-metro index that tracks matched pairs of single-family sales, has shown year-over-year price gains throughout this year.
Meanwhile, the National Association of Realtors reported the national median price of existing single-family homes rose 1% in August after rising almost 4% during the first half of 2010. Many major metropolitan areas – particularly along the East Coast and in the Midwest – have enjoyed a resurgence in home prices. This suggests the housing market is recovering slowly on its own without the home-buyer tax credit, and it’s another sign of the general upturn in the real estate market across much of the country.
Among the nation’s largest metros, here is a list of the Top 10 highest percentage gains in existing home prices during the first half of this year:
Metro | 4Q 2009 median price | 2Q 2010 median price | Change |
Indianapolis | $111,500 | $129,900 | 16.5% |
Newark, NJ | $341,100 | $386,500 | 13.3% |
Columbus, OH | $132,500 | $149,700 | 13.0% |
St. Louis | $126,800 | $143,100 | 12.9% |
Pittsburgh | $114,300 | $126,600 | 10.8% |
Oklahoma City | $136,300 | $149,900 | 10.0% |
Buffalo | $110,700 | $121,400 | 9.7% |
Des Moines | $143,400 | $156,200 | 8.9% |
Boston | $332,500 | $360,200 | 8.3% |
Washington D.C. | $306,200 | $331,600 | 8.3% |
(Source: National Association of Realtors.)
