The average home price in the U.S. has increased by 12.9% compared to last year, amounting to $309,800, up from $274,500 last year.
Lawrence Yun, the chief economist at the NAR, stated that sales have reached their highest levels since 2006, despite the COVID-19 pandemic, anticipating a further increase in the sales of existing U.S. homes by 3% this year. He suggested that more buyers are likely to enter the market as the total inventory of properties at the end of December dropped to 1.07 million units, a decrease of 16.4% from November and down 23% from 2019, which recorded 1.39 million units.
