Why The U.S. Housing Market Is Booming
This spring, the median price of a single-family home in the U.S. hit a record high at $335,000.
The average time that a house sat on the market? Just 18 days. That’s also a record according to the National Association of Realtors.
From Vox’s Recode:
Most recently, the pandemic and the premium that it put on private indoor and outdoor space has driven demand and prices. But like many things, this was an existing trend that the pandemic merely accelerated, and it has its roots in a confluence of factors, from an aging millennial population to an influx of private equity.
What’s behind this historically weird housing market? And is there any sign of a slowdown?
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