35 Percent of U.S. Housing Markets Reach New Price Peaks in 2015
According to the October 2015 U.S Home Sales Report, among 94 major US metro areas analyzed, 33 housing markets (or around 35 percent) have now reached new all0time home price peaks in 2015.
The report also found that the median sales price of U.S. single family homes and condos in October 2015 was $207,500, up 1 percent from the previous month, and up 10 percent from a year ago. This is the highest year over year percentage increase since February 2014.
The 10 percent increase in October 2015 came following 20 consecutive months of single-digit annual increases in median home sales prices. This also marked the 44th consecutive month with a year over year increase in median home prices. Despite nearly four years of increases, the US median sales price in October remained 9 percent below the previous peak of $228,000 in July 2005.
There were a total of 2,815,704 single family homes and condos sold in the first 10 months of 2015, according to public record sales deeds. That was a 9-year high for the first 10 months of the year, and a 6 percent jump from the same time frame in 2014.
Among 94 major metropolitan statistical areas, with 500 or more sales, with home price data available in October 2015, 89 percent saw an increase in sales prices from the previous year, while only 10 metros saw a decline in median sales prices from a year prior.
RealtyTrac analyzed 127 counties with at least 500 sales in October 2015, and where home price data was available on both the most recent purchase and the previous purchase. Counties where sellers, on average, sold in October for the biggest percentage profit since purchase were Alameda County, CA in the San Francisco metro area (75 percent gain), Santa Clara County, California in the San Jose metro area (61 percent gain), San Mateo County, California in the San Francisco metro area (58 percent gain), San Bernardino County, California in the Riverside metro area (52 percent gain), and Multnomah County, Oregon in the Portland metro area (51 percent gain).
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