Home prices up, sales down in late 2015

Home prices were up in most of the U.S. in the last three months of 2015 despite a slower pace of sales activity, according to new data from the National Association of Realtors.

The NAR said that median existing single-family home price increased in 81 percent of measured markets, while only thirty-four areas (19 percent) recorded lower median prices from a year earlier.

Prices were up the most in the West, where the median price of an existing single-family home increased 8.4 percent, to a median price of $323,600 in the fourth quarter from the fourth quarter of 2014.

Sales activity was generally higher than the year-ago fourth quarter but slower than the pace set in the third quarter of 2015.

Existing-home sales increased 1.9 percent in the Northeast from 3Q15 to 4Q15, but declined by 6.9 percent in the Midwest, 4.1 percent in the South and by 10.4 percent in the west.

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