Home Prices Jump In 95% Of Cities, Reaching Record High

Home prices have hit a new high. According to stats from ATTOM Data Solutions, median home prices jumped 2.9% over the third quarter of 2019 and 8.2% since last year. Clocking in at $270,000, it’s now the highest median sale price on record, according to ATTOM.

Though home price growth had been slowing for some time, Todd Teta, ATTOM’s chief product officer, says Q3 bucked this trend.

“The seven-year U.S. housing boom is back in high gear,” Teta said. “After a series of relatively small price increase quarters, home prices saw quite the uptick, seller profits rose, and the problem of distressed sales continued to fade, helping to make the third quarter the strongest in four years.”

On a monthly basis, the Federal Housing Finance Agency’s House Price Index shows prices up 4.6% between August 2018 and August 2019. Home prices rose the most in the Census’ Mountain division (Arizona, Colorado, Idaho and Montana, among others) and actually dropped in the East South Central division (Alabama, Kentucky, Mississippi and Tennessee).

According to ATTOM, here are the cities where home prices have risen the most.

All in all, home prices jumped in 95% of U.S. markets. The only major metros to see a drop in prices were Kansas City, Missouri (down 9.4%); San Jose, California (-3.3%); and Hartford, Conn. (-0.3%). 

Home prices are now above pre-recession peaks in four out of every five major metro markets.

Disclosure: Aly Yale has previously written content for internal ATTOM Data Solutions efforts.

This post first appeared on Forbes.com. To see the original, click here.