Is It Better to Rent or Buy a Home?
Money For the Rest of Us
The Rise of Home Prices Since the Pandemic
Since 2020 home prices have increased 57%, 61% in Austin, 62% in Tampa and 57% in Charlotte. The Case Shiller National Home Index is only up 0.7% for the year ending March. Average mortgage rate right now, 30 or mortgage rate 6.9%. So with the big jump in home prices, along with much higher mortgage rates, home prices are the least affordable they have been in the US since 1985.
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