Redfin reports that the median home-sale price increased 16% year over year to $331,590. This is thanks to a record 39% of homes selling above their list price. This is not only an all-time high but is also 15% higher than the same period a year earlier.
This price appreciation is starting to concern Redfin Chief Economist Daryl Fairweather. “It’s concerning how much home prices have risen during the pandemic…When the pandemic is over, purchasing a home is going to cost much more than ever before, putting homeownership much further out of reach for many Americans.”