Home prices have risen in 86% of the metro areas nationwide, bumping the national median single-family existing home value up 3.5% from a year ago to $391,700. For buyers in the market currently, it means home prices have doubled. This price increase is one reason why Americans continue to struggle to make ends meet despite moderating inflation.
Home prices have risen in 86% of the metro areas nationwide, bumping the national median single-family existing home value up 3.5% from a year ago to $391,700. For buyers in the market currently, it means home prices have doubled. Compared to one year ago, the national median single-family existing-home price grew 3.5% to $391,700. In the prior quarter, the year-over-year national median price increased 2.2%.
This price increase is one reason why Americans continue to struggle to make ends meet despite moderating inflation, according to NAR Chief Economist Lawrence Yun. U.S. inflation rose 3.4% in December, up from 3.1% growth the previous month, but has moderated since hitting a record 40-year high after the pandemic. However, the BLS uses changes in the rental value – known as Owners' Equivalent Rent (OER)-- to measure the cost of shelter for homeowners so it can lag home price growth."Homeowners have benefited from housing wealth accumulatio
Home Prices Metro Areas National Median Existing Home Value Buyers Market Inflation NAR Housing Wealth Accumulation
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