Dive Brief:

• The price of single-family homes and condos inched upward in 86% of major metropolitan areas during the fourth quarter of 2014, the National Association of Realtors reported on Wednesday.

• For existing homes, sales prices dipped slightly at the end of the year, the report said.

• Home prices in cities around the country have grown by an average of 25% over the past three years, according to NAR’s chief economist, Lawrence Yun.

Dive Insight:

Rising home prices seem like good news for sellers, but only if they remain low enough for buyers to afford. In some areas, the growth in home values is outpacing the growth in wages, which can lead to stagnant sales.

Improved sales and shrinking inventories in 2014 helped propel prices of homes upward.