That's according to a report released Wednesday by the Runstad Center for Real Estate Studies at the University of Washington.
The report said that in the July to September quarter, the number of existing home sales rose 30 percent from a year ago. It reached the highest sales rate since the second quarter of 2007.
Limited supply and strong demand pushed the median price for a home to $264,300, an increase of 8.4 percent compared to a year ago.
MORE HBJ HEADLINES
Watchdog: Too few air traffic controllers where needed most A $32B tally, but Boeing's 787 costs don't bother Wall Street Czech airline to buy 16 Boeing 737 Max jets Lockheed Martin separating unit, combining it with Leidos Apple forecasts rare sales drop Obama administration loosens Cuba embargo with new measures