Home prices in the U.S. continue to climb as homebuyers are seeing little relief amid increased demand and low supply.
According to a report from theNational Association of Realtors, 67% of 183 metro areas examined saw double-digit growth in average home prices during the fourth quarter of 2021.
The monthly mortgage payment for a typical single-family home with a 20% down payment is $1,240 — about 17% of the median family monthly income and a $201 increase from a year prior.
The average sales price of single-family homes rose 14.6% last quarter to about $362,000.
