December 9, 2006
Not All Pricing News is Gloomy
Not All Pricing News is Gloomy
Housing prices continued to climb in the third quarter, according to the only national survey that covers the sale of both new and existing homes.
The ascent wasn't nearly as relentless — just 3.1% — but prices are still rising nonetheless, according to the quarterly figures from the Federal Housing Finance Board.
The average in the nation's 32 largest markets was $326,700 as of Sept. 30, up from $317,000 a year earlier. Of the 32 markets, 19 showed increases, including surprising double-digit gains in several places.
Like studies conducted by other government agencies and the National Assn. of Realtors, the housing finance board's survey is not without drawbacks. It doesn't include houses sold with government financing, for example, so the numbers tend to skew a bit higher.
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