Median Home Prices Dip in 3 Out of 4 Markets

Median home prices fell in nearly three out of four metro areas, according to a housing report released Wednesday.

The National Association of Realtors found in a quarterly report that the median home price for existing, single-family homes fell in 109 out of 151 markets, compared to the same period last year. Only 41 markets showed price gains and one remained unchanged.

The national median price for existing single-family homes was $171,900 this quarter, down 2.8 percent from $176,800 in the year-ago period. Despite the affordable conditions in several markets, however, existing home sales (which include condos and co-ops), was down 12.7 percent from the same period last year.