WebHeader_Grove.png
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Get entered for two chances to win tickets to see Hamilton in Boston with your gift today!

Why The U.S. Housing Market Is Booming

A home stands for sale in a Brooklyn neighborhood with a limited supply of single family homes in New York City.
A home stands for sale in a Brooklyn neighborhood with a limited supply of single family homes in New York City.

This spring, the median price of a single-family home in the U.S. hit a record high at $335,000. 

The average timethat a house sat on themarket?Just 18 days. That’s also a record according to the National Association of Realtors

From Vox’s Recode:

Most recently, the pandemic and the premium that it put on private indoor and outdoor space has driven demand and prices. But like many things, this was an existing trend that the pandemic merely accelerated, and it has its roots in a confluence of factors, from an aging millennial population to an influx of private equity.

What’s behind this historically weirdhousing market?And is there any sign of a slowdown? 

Copyright 2021 WAMU 88.5

Amanda Williams

You make NHPR possible.

NHPR is nonprofit and independent. We rely on readers like you to support the local, national, and international coverage on this website. Your support makes this news available to everyone.

Give today. A monthly donation of $5 makes a real difference.