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Home Prices in the U.S. Soar 23%, the Fastest Rate on Record

  • Single-family median value reaches all-time high of $357,900
  • A dozen metro areas see gains of more than 30%, Realtors say
Photographer: Daniel Acker/Bloomberg
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U.S. home prices rose the most on record in the second quarter as buyers battled for a scarcity of listings.

The median price of an existing single-family home jumped 23% from a year earlier to an all-time high of $357,900, the National Association of Realtors said in a report Thursday. About 94% of 183 metropolitan areas measured had double-digit gains, up from 89% in the first quarter.