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Housing prices up across America in the second quarter.  In 94% of those metro areas, median prices rose by more than 10% from a year earlier. At the same time, the inventory of homes for sale has dropped.  Not all cities went up: Springfield, Ill median price down 6.9%

Chart 8-13-2021 Median sale prices US.png
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Weekly Market Thoughts and Insights to an ever-changing Market:
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Metro Matters Magazine
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Current RE News
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A Picture is Worth 1000 Words

If you think metro-Denver real estate is hot, take a look below at other cities with record home inflation.  Denver is up there at 17% or more, but appreciation rates over 20% are unsustainable and a threat to home ownership.  Historic U.S. home appreciation is around 3.5%.  

The Phoenix-area median home price is $399,900, up 31.1% from a year earlier.  Phoenix prices are rising faster than all other major metro areas.  It's June supply of existing-home inventory was 29.6% below a year earlier.  It's rents are up 17% from a year ago, outpacing the nationalwide rent increase of 8.4%.  

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The chart below shows how new home prices nationally have increased since the start of 2019.  Increased lumber costs alone have added almost $36,000 to home purchase prices since Oct of 2020. 

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Chart 7-24-2021 Number of households served by rent assistance.png

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Chart 1-10-2022 rising bond yields#2_edi

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