A new study from Point2 shows that the median home sale price doubled nationally in the past decade primarily due to a housing shortage. In Colorado, it took less than a decade for median home prices to double in nine cities.
Meanwhile, a Zillow analysis shows that listing a home in late May can result in a $17,000 higher sale price compared to other times of the year.Limited supply, surging demand, the pandemic, and inflation caused the median home price nationally to double from $200k to $400k in the past decade.In Colorado, Point2 found it took less than a decade for median home prices to double in nine Colorado cities:Most of the least affordable metros are on the East or West Coast.
First-time buyers nationwide need to earn $119,769 to comfortably afford the median-priced home in the U.S., $332,494, with a 10% down payment. That’s roughly $45,000 more than the average annual income of $74,755.A Zillow analysis
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