03/26/2021
The shortage of homes for sale is making homebuyer competition more intense than we've ever seen; 36% of homes sold last month went for more than their asking price, the largest share on record. This extreme imbalance between supply and demand is the primary factor rapidly driving up home prices.
The national median home-sale price rose 14.4% year over year to $336,200 in February, the largest increase seen since July 2013.