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The price of a home (or apartment) in major US cities
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The price of a home (or apartment) in major US cities
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SANTA CLARA, Calif., April 29, 2021 /PRNewswire/ The number of new sellers surged in April compared to last year when most cities had shelter-in-place orders in effect. However, with the number of new listings still nearly 26% below pre-pandemic levels, buyers saw little relief as the median U.S. home listing price soared 17.2% year-over-year to a new high of $375,000 and homes sold lightning fast in a record low 43 days, according to the realtor.com
® After stay-at-home orders brought the housing market to a halt last spring, especially for sellers who re-thought their plans, 2021 is shaping up to be more typical, said realtor.com
Realtor com® Housing Report: Homes Sell Faster Than Ever as Sellers Return to the Market in April
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The Price of a Home (or Apartment) in Major U.S. Cities
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Housing affordability has been a major topic of concern for researchers and policymakers in recent years. Access to affordable, quality housing is associated with a variety of positive economic and social outcomes, which makes it an important tool to encourage families to thrive.
But historically, affordable housing has been out of reach for many. Low income populations and racial and ethnic minorities are often excluded from the wealth-building benefits of homeownership. People who rent are far more likely to be cost burdened by housing, according to Census Bureau data. And whenever income grows slowly as it has recently for certain groups housing affordability becomes even more of a challenge.