NAR report shows home price data stable; half of US cities show increases and half decreases

Real estate prices remain largely unchanged as half of the cities post gains and half price declines.  Bloomberg reported this as bad news and led with the title Home prices fall in half of US cities which of course means that the other half had price increases.  Via NAR:
In the third quarter, 77 out of 155 metropolitan statistical areas1 (MSAs) had higher median existing single-family home prices in comparison with the third quarter of 2009, including 11 with double-digit increases; two were unchanged and 76 metros showed price declines. In the third quarter of 2009 only 30 MSAs experienced annual price gains

The national median existing single-family price was little changed at $177,900 in the third quarter, down 0.2 percent from $178,200 in the third quarter of 2009. The median is where half sold for more and half sold for less. Distressed homes, typically sold at discount, accounted for 34 percent of third quarter sales, up from 30 percent a year ago.
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NAR cities data

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