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Home prices are up 17% over the past year, while inventory remains low: Redfin

US housing market

Summary List Placement

With buyer demand high and inventory low, home prices in the US continue to rise.

A new report by the Seattle-based real estate brokerage, Redfin, found that for the four-week period ending on April 11, the median home-sale price shot up to $341,250, a 17% year-over-year increase. 

Homes that were sold during the four-week period sat on the market for a median of 23 days, the shortest length of time since 2012. And, 43% of homes sold over listing price, the highest percentage recorded by Redfin.

The high prices are a result of limited inventory.

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