Median home prices for existing single-family homes rose 10.2% in the year ending August. This is one more (and impressive!) indication that the housing market is recovering. The chart above shows the prices in constant dollar terms, and they are up 8.4% in the past year. The chart also suggests that housing prices in real terms have found solid support at levels reached earlier this year. Mark Perry has charts and data for median home prices for new single-family homes: "The median sales price for new homes surged by almost 17% from a year earlier to $256,900 in August, the highest median price since March 2007."
The housing market news is getting to be pretty impressive.
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