Top Housing Markets Report

Nationally, median home prices gained 8.8 percent in the fourth quarter versus the same period in 2003, according to a National Association of Realtors (NAR) report. The median price was $187,500, which means that half the homes tracked cost more and half cost less. Of the 129 markets tracked, 62 areas had growth of more than 10 percent.

Over the past 12 months, Las Vegas home values showed the biggest gains. The median price of an existing single-family home in and around Sin City were up 47.3 percent. In Riverside and San Bernardino counties near Los Angeles prices were up 34.7 percent.

Six of the top-performing markets are in Florida with West Palm Beach and Boca Raton up 34 percent. Not all markets have seen these kinds of gains. In nearly 17 metro areas, prices inched up less than 3 percent. In four metros, prices declined.

The NAR report for the fourth quarter was released on Feb. 15; first-quarter results are due on May 12.

Housing prices continue to defy forecasts of a slowdown. See how your town stacks up by clicking the link here.

Source: CNN/Money Real Estate