Home prices are on the rise nationwide.
According to the recently-released Home Price Index for November (S&P Dow Jones Indices), the U.S. National Home Price Index grew by 10.4 percent in November, the National Home Builders Association said.
The median sales price for homes sold during December was $232,200 according to the National Association of Realtors, a 4 percent rise over December 2015.
So where does Alabama stack up in the home price surge?
As a whole, the state experience a 6 percent rise in its median sales price during 2016 at $141,442, compared to $133,991 during 2015.
This establishes a new peak for the state and is 39 percent above the 2002 trough of $101,761.
Here’s how the tate’s five metro markets performed in terms of pricing during 2016.
