Limited Supply Spurs Higher Prices in Third Quarter

Persistent supply shortages throughout the country led to slightly faster home price appreciation during the third quarter, according to the latest quarterly report by the National Association of REALTORS®. The report also revealed that seven of the 10 most expensive housing markets in the U.S. are in the West, including San Jose, Calif., which had a median single-family home price of $1 million for the second straight quarter.
The median existing single-family home price increased