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Honolulu home prices the third-costliest

By Erika Engle

LAST UPDATED: 7:48 a.m. HST, Nov 6, 2013

With a median home price of $679,800, Honolulu is the third-most expensive housing market in the U.S. behind San Jose and San Francisco, Calif., according to the National Association of Realtors.

Median prices are $805,000 in San Jose and $705,000 in San Francisco.

Ranked at Nos. 4 and 5, respectively, are two additional California markets: Anaheim-Santa Ana, at $670,700; and San Diego, at $485,000.

The Realtors group studied third-quarter closings and compared them with the third quarter of 2012 and found that the median existing single family home price increased in 88 percent of measured markets.

The five most affordable metro areas in the U.S. were Toledo, Ohio, with a median price of $87,500; Rockford, Ill., at $88,900; Decatur, Ill., $91,000; Ocala Fla., $103,600; and Topeka, Kan., where the median price was $106,900.

The national median existing single-family home price was $207,300 in the third quarter, a 12.5 percent  increase from $184,300 in the second third of 2012. The jump is the strongest year-over-year increase since the fourth quarter of 2005 when it shot up 13.6 percent.

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