Home Prices Rose a Record 16% in April from a Year Ago, FHFA Says
U.S. home prices gained at a record pace in April as a shortage of available properties boosted competition among buyers.
June 29, 2021 2 MIN
U.S. home prices gained at a record pace in April as a shortage of available properties boosted competition among buyers.
While demand for new houses remains strong, builders have been forced to limit sales due to a shortage of building materials.
The U.S. median home price rose by a record pace of 24% in May, compared with a year earlier, as tight inventory sparked bidding wars.
Underbuilding has left America with demand that far outstrips housing supply, according to an NAR report.
The last time the Fed signaled the end of a bond-buying program, mortgage rates jumped more than a percentage point in the span of two months.
Sales of new houses jumped in March to the highest level in more than 14 years as construction crews raced to meet a surge in demand.
Pittsburgh leads a list of cities where renters, even those with lower incomes, have the best chance to become homeowners.
The housing wealth of Americans rose to a record $32 trillion dollars at the end of 2020, according to the Fed.
Bloomington and Iowa City are the best markets in the U.S. for first-time homebuyers, according to realtor.com's ranking of cities by affordability, inventory, and job opportunities.
