Check out the recent Redfin article we were featured in: Inflation and House Prices: What Homebuyers, Sellers, and Renters Need to Know
Prices are up almost everywhere – from food, to gas, to home prices. In February 2012, the nationwide median sale price of a house in the U.S. was $160,000. More than ten years later, that number is up to a record $412,000. Homes in markets like Phoenix, AZ, regularly face bidding wars, while nationwide, nearly 6,000 have sold for $100,000 or more above asking price this year. Home prices have been steadily rising for years, but they have dramatically increased in recent months. Why?