Home-prices in the U.S. slowed in Q4, mainly due to a glut in supply.
The median price for an existing single-family home was $257,600, up 4 percent from a year earlier, the National Association of Realtors said in a report Tuesday. In the third quarter of 2018, prices rose 4.8 percent annually.
Home sales have slumped after a jump in mortgage rates added to an affordability problem. About 1.55 million homes were available for sale at the end of December, up 6.2 percent from 2017.
“Home prices continued to rise in the vast majority of markets,” Lawrence Yun, chief economist for the Realtors group, said in the report. “But with inventory steadily increasing, home prices are, on average, rising at a slower and healthier pace.”