Home Prices See Double-Digit Growth In Last Quarter Of 2021

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Home Prices See Double-Digit Growth In Last Quarter Of 2021
According to the National Association of Realtors, the median single-family home price increased 14.6% to $361,700.

Home prices in the U.S. continue to climb as homebuyers are seeing little relief amid increased demand and low supply.

According to a report from the National Association of Realtors, 67% of 183 metro areas examined saw double-digit growth in average home prices during the fourth quarter of 2021.

The monthly mortgage payment for a typical single-family home with a 20% down payment is $1,240 — about 17% of the median family monthly income and a $201 increase from a year prior.

The average sales price of single-family homes rose 14.6% last quarter to about $362,000.