Equity is growing across in every corner of the country.

  1. Every one of the 181 cities tracked by the National Association of Realtors reported year-over-year home price gains during the third quarter of 2020.

NAR attributes these strong gains to record-low interest rates and tight housing inventory nationwide.

  • Sixty-five percent of these metros, or 117 out of 181 areas, reported double-digit YOY price growth.

In fact, Bridgeport, Connecticut, saw the strongest price growth at 27.3%.

  • The national median existing single-family home price rose 12% YOY, up to $313,500.
  •  All four major regions experienced double-digit price gains, led by the West at 13.7%

Home price have grown four times as fast as the median family income in Q3 2020.

Families need roughly $50,819 in annual income to afford a mortgage on a typical existing single-family home, up from $48,912 in the second quarter.

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