Home prices

U.S. home prices jumped 19.8% in August, the latest in a string of massive gains in the pandemic real estate market.

Listing times, price appreciation and inventory of for-sale homes all made incremental gains in favor of buyers, according to Zillow

The lack of inventory pushed the median housing price to double-digit annual growth for the 14th straight month, according to Redfin.

The state, which has grappled for years with a shortage of affordable housing, will see prices rise 5.2% to a median of $834,000 in 2022, according to a forecast by the California Association of Realtors.

The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.

Appreciation more than tripled the year-ago rate, according to CoreLogic.

The home price increases and the ongoing inventory shortage made buying conditions difficult and many think it’s only getting more challenging, according to RealtyTrac.

The U.S. housing market has been on fire, with the pandemic fueling intense demand for suburban homes. A shortage of affordable properties has pushed up prices and kept some potential buyers on the sidelines.

Price appreciation over the past year also dropped the share of underwater mortgage borrowers to an all-time low, according to CoreLogic.

Last month’s housing market reversed a trend in purchases, but it wasn’t enough to stop the double-digit price growth, according to Redfin.