Dive Brief:

• Second-quarter data from the National Association of Realtors say the national median home price for April through June – $212,400 – was up 4.4% from the same quarter last year after an 8.3% rise year over year in the first quarter.
• The group said prices rose in slightly fewer places, 71% of the 173 metro areas tracked compared with 74% in January, February and March.
• Prices fell in 47 of the 173 areas in the second quarter, and the number with double-digit price inflation was down to 19 from the first quarter's 37.

Dive Insight:

The rate at which home prices have been rising has been one of the explanations for the shortage of first-time buyers in the single-family home market during the recovery. Slower increases may give more buyers a chance.