NAR Sees Price Gains Fading in Many Localities

NAR Sees Price Gains Fading in Many Localities

While recent reports from Black Knight and CoreLogic show price increases continuing at record levels, the National Association of Realtors® (NAR) reports they are easing in some metropolitan areas. A fourth quarter report, which covers 183 major housing markets, shows that the share of those markets experiencing annual median home price gains in the double digits fell from over three-quarters (78 percent) in the third quarter of 2021 to 67 percent. Further, while all four regions of the country had gains in the double digits in Q3, only the South saw such increases in Q4. Prices in that region increased 17.9 percent while the Northeast’s appreciation was 6.8 percent and prices in the Midwest and West rose 8.6 percent and 7.7 percent, respectively. Nationally, the sales prices