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Article: U.S. MEDIAN HOME PRICE RISES 2.6% : HIKE EQUALS INFLATION RATE.(BUSINESS)(Statistical Data Included)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- April 9, 1997
CopyrightCOPYRIGHT 1997 Daily News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Daily News Staff and Wire Services
The value of middle-class Americans' most important asset - their home - rose in most communities during the last three months of 1996, with the notable exceptions of upstate New York and some cities in Texas.
Nationally, the median price of new and existing homes advanced 2.6 percent to $120,000 from the fourth quarter of 1995 to the fourth quarter of 1996, according to a survey released Tuesday by the National Association of Home Builders.
That means home values, in general, rose with inflation. The core inflation rate last year - minus volatile food and energy prices - also was 2.6 percent.
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