Sarasota - Bradenton Home Prices Up 30 Percent...

About half of the U.S. metro areas included in a National Association of Realtors home-price report had double-digit annual price from fourth-quarter 2004 to fourth-quarter 2005.

The association's report, which covers 145 metro statistical areas, shows a record 72 areas with double-digit annual increases in median existing single-family home prices. Six areas posted price declines. The previous record for areas showing double-digit price appreciation was 69 metros in the third quarter of 2004.

David Lereah, NAR's chief economist, said in a statement, "Although home sales have eased, the tremendous momentum in price appreciation was sustained in the fourth quarter because tight inventories still favored sellers. The good news is that the supply of homes on the market has been trending up and we are entering a period of a more normal balance in supply and demand."

Read more at http://www.inman.com/hstory.aspx?ID=50033

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