- The national median listing price of a home increased 11.1% year-over-year in September, and was $350,000 at the end of the month, according to a report by Realtor.com.
- Per the report, which analyzed the 50 largest US metro areas, home prices are continuing to shoot up, even as we enter the fall.
- Of the 5 housing markets that saw the largest year-over-year home price increases, all by double-digit percentages, 3 are located in the Northeastern part of the country.
- Visit Business Insider’s homepage for more stories.
As a result of the coronavirus pandemic, the single-family housing sector has been booming.
Prospective homebuyers are on the hunt for larger spaces, affordable prices, and areas where social distancing is made easier. These desires have put a spotlight on suburban and suburban-like markets outside of major cities, and have driven up home prices.
According to a report by Realtor.com, the national median listing price in September was $350,000, an 11.1% increase compared to September 2019.
Some regional housing markets have seen double-digit price growth, too.
Per the report, which looked at the 50 largest metro areas in the US, five housing markets saw the largest year-over-year price increases in September, and three are located in the Northeast. Northeastern markets saw home prices grow an average of 12.8% compared to 10.9% in Midwestern metros, 8.7% in Western metros, and 7.2% in Southern metros.
Keep reading for a list of the five metros that saw the highest year-over-year price growth in September, and how much a typical home is there.