October 2021

"Over the last few months, high competition and the limited housing stock for sale have brought double-digit annual gains to home prices. That has locked out many buyers, particularly first-time home buyers, or forced them to stretch their budgets to the maximum.

Amid those dynamics, the median price of an existing home reached $356,700 in August—a nearly 15% uptick compared to a year earlier, according to the National Association of REALTORS®."