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Home Prices Rose in 89% of U.S. Metro Areas in Fourth Quarter

  • Competition heating up for record-low supply, Realtors say
  • Gains accelerated, with 31 areas seeing double-digit increases

Home price gains accelerated in the fourth quarter, with increases reported in 89 percent of U.S. metropolitan areas, as competition heated up for a record-low supply of listings, the National Association of Realtors said.

The median price of an existing single-family home rose from a year earlier in 158 of the 178 areas measured, the group said in a report Thursday. In the third quarter, 87 percent of metropolitan areas had price increases. Thirty-one regions had gains of 10 percent of more in the three months through December, up from 25 in the third quarter.