in the market. Buyers are competing fiercely for a limited number of homes, pushing prices sharply higher.
The median existing-home price rose 17.2% in March from a year earlier to $329,100, a record high, NAR said. The annual price appreciation was the strongest in data going back to 1999. Spring is usually the busiest time of year for home sales, as families try to move homes before the start of a new school year.
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At this rate, the average American family will never be able to buy a home bc investors are turning the market into a rental frenzy by collecting assets for passive income. There should be priority given to first time home buyers. It’s not sustainable.
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