- The median price for a single-family home in the US rose 12% in the third quarter of 2020, according to the National Association of Realtors.
- Bloomberg reported that this 12% jump is the highest year-over-year increase since 2013.
- Low-mortgage rates have fueled 2020’s powerful housing rally. But as home prices significantly outpace median family income growth, more Americans are pushed out of the housing market and forced to delay homeownership.
- The proportion of first-time buyers dropped to 31%, the lowest share in over 30 years.
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The median price for a single-family home in the US rose 12% in the third quarter to $313,500, according to the National Association of Realtors.
It’s the highest year-over-year increase since the third quarter of 2013, when prices rose 12.4%, Bloomberg reported.
Every single metro area tracked by the organization saw home