Home prices may be rising too fast

South Florida home prices posted steady gains in the second quarter, but slower growth would be better for the housing market long term, according to a new report.

The median price for single-family homes in Palm Beach, Broward and Miami-Dade counties was $289,900, up 7.4 percent from the second quarter of 2014, the National Association of Realtors said Tuesday.

The median for condominiums rose 7.1 percent to $156,300. The median means half sold for more and half for less.

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