Part 2/6:
According to the latest data, median home prices have risen by 5.4% compared to the previous year. This information is sourced from reputable organizations such as Rearin, which analyzes data from MLS and public records. Additionally, the National Association of Realtors reports that home prices have skyrocketed 45% since the onset of the pandemic.
A notable trend is the year-over-year increase in home sales, which are up 4.4% when compared to the same period last year. However, this is still about 20% lower than sales levels observed before the pandemic. The current inventory of homes for sale stands at approximately 1.69 million, a 10% increase from the previous year but still reduced from pre-pandemic numbers, which exceeded 2 million.