The National Association of Realtors released a report which says that the median price of a home rose in value by 7.1% in the last 12 month period. The median price is the point where half of the homes were priced higher and half were priced lower.
By breaking the numbers down into categories, we can look a little deeper into the data.
The higher priced homes, those which are at least 125% of the median price, had the lowest percentage gain 5.5%. Please bear in mind that even though the percentage was the lowest, the dollar amount was probably the highest.
Homes priced between 100% and 125% of the median rose by 7.3%.
If the home was priced from 75% of the median to the median price, the appreciation was 8.3%.
The homes that were priced the lowest, those with prices less than 75% of the median, saw their values rise by 10%.