Single-Family Home Prices Rose in 67% of 183 Metro Areas in 2021 Q4
Nationally, the existing single-family median home price rose 14.6% year-over-year to $361,700, with 67% of the markets showing double-digit home price appreciation.
Nationally, the existing single-family median home price rose 14.6% year-over-year to $361,700, with 67% of the markets showing double-digit home price appreciation.
At the national level, housing affordability fell in December 2021 compared to the previous month according to NAR’s Housing Affordability Index. Compared to the prior month, the monthly mortgage payment increased by 0.5% while the median family income rose modestly by 0.3%.
Apartment demand is still outpacing supply across all classes of apartments and with demand likely to rise, rental prices are also likely to rise.
When looking at the household composition of home buyers today, 60% of all home buyers are married couples, 19% are single women, and 9% are unmarried couples.