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California Takes Prize for Most Expensive Homes

santa_cruz_ca___santacruzpictures_slash_rick_puckettThe National Association of Realtors (NAR) informs MHProNews that the median existing single-family home price increased in 93% of 176 metropolitan areas during Q2 2015, up from 85 percent of metro areas in the first quarter. Compared to the second quarter of 2014, home prices rose 8.2 percent.

According to marketwatch, the five most expensive U. S. metro housing markets in Q2 (four of which are in CA) were San Jose, CA where the median existing single-family price was $980,000, followed by San Francisco at $841,600, Anaheim-Santa Ana CA at $685,700, Honolulu at $698,600 and San Diego, $547,800.

The five least expensive metro housing markets in Q2, all east of the Mississippi River, were Cumberland, MD, where the median single-family home cost $82,400, followed by Youngstown-Warren-Boardman, Ohio, $85,000; Rockford, Ill., $94,700; Decatur, Ill., $96,000; and Elmira, N.Y., $98,300.

If wages continue to stagnate and/or rise slower than the prices of homes, manufactured homes will appear more and more as a better option. ##

(Photo credit: santacruzpictures/Rick Puckett-Santa Cruz, CA)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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