Prices for single-family homes climbed in 88 percent of U.S. cities in the third quarter as buyers competed for limited inventories that included fewer discounted foreclosures. The median transaction price rose from a year earlier in 144 of 163 metropolitan areas measured. The nationwide median price for an existing single-family home rose 12.5 percent in the third quarter from a year earlier to $207,300. The increase in prices, competition and borrowing costs are now forcing some buyers to pause as housing affordability starts to bite down on some parts of the market.
Please sign in to comment on this wire.