Oct 18, 2021 - Economy
Single-family home prices are up 12.4% in a year
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On average, the price of a single-family home rose 12.4% in the year ending May 31, to $301,855 — though the figure is much higher in hot-market states like Idaho, Arizona and Utah.
Why it matters: The pandemic fervor for real estate continues to overheat the housing market, making homeownership elusive for many and keeping others stuck in living situations they'd prefer to upgrade or otherwise change.
- See where your state ranks here, in a report by Move.org that used the Zillow Home Value Index to compare home prices from May 2020 to May 2021.
Details: While 38 states saw increases in the double digits, only 13 states had increases oof under 10%, according to Move.org, a site that lets people compare resources for moving homes.
- The only states that saw increases of 5% or less were Alaska, North Dakota and Wyoming.
- Zero states saw housing prices fall.
