The National Association of Realtors has reported that median prices of existing homes rose 6% over the 12 months ended June 30.Strong sales activity pushed up prices in all four regions of the country, led by the Midwest, where the median price of a home rose 7.9% over the past four quarters to $114,000. Median prices of existing homes rose 7.5% in the West to $172,900, 7.1% in the South to $115,900, and 3.5% in the Northeast to $151,100. "We expect that the resale market across the nation will continue to remain at record levels, while sale prices will continue their moderate gains," said Fred Flick, the NAR's vice president for economic research. The NAR's website address is http://www.realtor.com.
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