John Cropley reports in the Daily Gazette that Capital Region housing prices were up over the previous year for the 27th straight month in a 12 percent year-over-year jump in June, the median sale price of a single-family home has now risen 27 months in a row in the Capital Region, according to the Greater Capital Region Association of Realtors. That rise coincides with the start of the COVID-19 pandemic. “Despite the increase in home prices, insurance rates, and slowing sales, eager buyers continue to keep demand high on existing inventory,” GCAR President Kendal Baker said in a press release. The median price of a house sold in June was $295,000, with sellers getting on average 103.5 percent of their original asking price with average time on the market just 21 days. The region surveyed includes Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schenectady, and Schoharie counties. Nationally, the story is similar. “In the near term, I do not expect the situation to change appreciably,” said Lawrence Yun, chief economist for the National Association of Realtors, testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs last week. “Historic undersupply in the market, combined with continued demand, will likely drive ongoing issues with affordability for many Americans.” In Albany County the media price of homes sold in June was $277,000, up 10 percent. In Rensselaer County, the median price was $250,000, up 9 percent. Read more about this story in the Daily Gazette.