ONLINE BANKING
Access ID:
Pay Online Button

CD Rates

RealtyTrac: Median sales price climbs on yearly basis

Posted on Friday, January 2, 2015 at 7:55:50 AM

While the new year is finally upon us, data from the last several months of 2014 is still being released. One of those notable reports is from RealtyTrac, which covered single-family home prices, distressed properties and short sales.

According to RealtyTrac, the median sales price for single-family real estate in the U.S. was $190,000 in November. That is the same as it was back in October, but it represents a 15 percent increase compared to the same time in 2013. On a similar note, the median sales price of distressed properties hit $128,625 this past November.

"Home price appreciation on average was 6 percent among all metro areas with a population of 500,000 or more," explained Daren Blomquist, vice president at RealtyTrac. "We saw strong price appreciation in Rust Belt cities like Detroit, Cleveland and Chicago contrasted with single-digit price appreciation in many coastal California markets, Phoenix, Las Vegas and the District of Columbia."

In addition, Black Knight Financial Services reported that the national delinquency rate climbed above 6 percent in November for the first time since February 2014. While the percentage of homeowners behind on their residential financing payments did increase on a monthly basis, the delinquency rate dropped nearly 6 percent on a year-over-year level.