Home prices in the US have outpaced the rate of inflation significantly since the 1960s, according to a study by Clever Real Estate. The study reveals that housing prices have risen at 2.4 times the pace of inflation over the decades. If home prices had kept up with inflation, the median home would cost $177,500 today, a stark contrast to the actual median price of $431,000.
This trend persists even when looking at more recent data. Since 2013, inflation has increased by 31%, while the median home price has surged by 63%. The report highlights that homeownership has always been expensive, but the current costs are unprecedented.
