Scranton, Pa., leads the nation with the largest median price gain on a year-over-year basis for the third quarter, according to the most recent Hanley Wood Market Intelligence report.
The company looked at data for markets with over 1,000 or more closings for the quarter. Scranton recorded a 14% gain, followed by Honolulu and Port St. Lucie, Fla., each at 12% and Boulder, Col., and Madison, Wis., each at 11%.
Hanley Wood said as a state, Colorado was the most stable in terms of home prices. Besides Boulder, Denver had an 8% gain and was tied for seventh. Then there was Colorado Springs ranked ninth, Fort Collins ranked 15th and Greeley ranked 19th, giving the state five cities in the top 20 nationwide.
Hanley Wood commented that prices are beginning to stabilize in many markets.
"While sales volumes remain lackluster at best, record-low mortgage rates and a slowly improving economy have helped stopped the precipitous decline of home prices in most areas," the company commented.
