Grand Demand

November 1, 2002

Of 113 metro areas tracked by NAR, all but 10 posted annual increases in home-price appreciation for the second quarter of 2002, the latest for which figures were available. In 28 areas, the increases were double-digit.

The national median home price for the second quarter stood at $157,700, a 7.4 percent increase over the second quarter of 2001.

Biggest gain: Nassau-Suffolk, N.Y., had a median price of $307,200, up 29.6 percent over 2Q 2001.

Biggest drop: In Topeka, Kan., the median sank 7.9 percent from 2Q 2001 to $83,800.

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