Home price appreciation is still the norm on the housing market, but it's slowing down, according to new analysis from the National Association of Realtors.
The median price for sold, existing homes in July was up 4.5 percent annually, but 2017's annual appreciation was faster at 5.7 percent. In addition, the median list price for homes on Realtor.com increased in all but 95 of the 500 metros included on their site, research economist Scholastica Cororaton reports for the National Association of Realtors. The largest metros with annual declines in median list price for the month include Denver, Austin, Texas; and Greenville, S.C., ranging between 1.6 and 8.8 percent depreciation.
However, the median list price continues to increase on a year-on-year basis in the high-cost metro areas of California such as Los Angeles-Long Beach-Anaheim (4.3 percent), San Francisco-Oakland-Hayward (5.7 percent), San Jose-Sunnyvale, CA (16.5 percent). The median list price also rose in New York-Newark-Jersey City (11.5 percent), Atlanta-Sandy Springs, GA (10.3 percent), and Seattle-Tacoma-Bellevue, WA (14.4 percent).
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