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Summer housing trends: Will home sellers still have the upper hand?

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Home prices may trend higher, too
Home prices may trend higher, too © iStock

Home prices may trend higher, too

The national median existing-home price was $228,700 in May 2015, a 7.9% increase from May 2014, according to NAR data.

Home prices are expected to keep rising, likely more in some regions than in others, Reaser says.

We will see around a 6% price increase this summer compared with last summer, based on the Standard & Poor's/Case-Shiller home-price index, adds NAHB's Crowe.

"It's about the same trend that we have seen so far this year."

Median home prices increased the most in the West (10.2%) and the least in the Northeast (4.8%) from May 2014 to May 2015, NAR reports.

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