While the U.S. real estate market appears to finally be cooling down, home price growth has been a defining economic trend in recent years. Over the past decade, which has included recoveries from both the Great Recession and the COVID-19 recession, U.S. home values grew by more than 95%. In comparison, average hourly earnings saw a modest 44% increase, while the Consumer Price Index rose by just 33%. Consequently, housing affordability has taken a hit, while homeowners have seen substantial gains in their real estate wealth.
Home Price Trends Following Economic Recessions
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Over the past decade, America’s home prices have skyrocketed, far outpacing wage growth and inflation: U.S. home values have grown by more than 95%, while average hourly earnings saw a modest 44% increase, and the Consumer Price Index rose by just 33%.Construction Coverage’s newest report br… Click for more.Cities With the Largest Increase in Home Prices Over the Last Decade
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