Right now, the median sale price for most existing single-family homes has increased. In fact, during the first quarter of 2021, it increased dramatically compared to the prices a year ago. The soar in national home prices is due to high demand and limited inventory.
Throughout the country, the median sale price for existing homes rose by 16.2%. As of now, the median is at $319,200. This is the highest it has been since 1989. In addition, vacation home prices were among the highest increases. This is because many people left their cities during the pandemic in order to find places with more space. Even though national home prices have risen, economists expect prices to slow down, according to The Real Deal.
Read full article here: https://therealdeal.com/miami/2021/05/12/up-up-and-away-home-prices-soar-beyond-buyers-reach/
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