The average American’s median house price has doubled over the last five years, according to a new report.
In 2018, average prices for a one-bedroom home were $939,927, up from $876,917 in 2016, according, Zillow.
This is a significant jump, according the research firm.
In 2016, average home prices were $826,832.
That’s a 33% jump from the same time period last year, Zellow said.
The average price of a home in the metro area increased by 5.4% between 2016 and 2018, according Zillows data.
Zillowitz said the data is the latest data on the rise of the median house in America.
“This year’s median home price is up 5.8% over the previous year,” Zillower said in a statement.
“The average house price rose 3.6% from 2016 to 2018.
This means that the median home in this metro area rose by a whopping $1,919,913 in the last year.”
The report also said that the average house value in the United States increased by $6,097, or 2.4%, between 2016 to 2017.
The increase is mainly driven by the rise in the cost of owning a home.
Median house prices increased by a mere 3.5% in 2017, Ziller said.
“In the five years from 2016 through 2017, median home values in the 50 states and the District of Columbia grew by an average of $2,926,633,” Ziller added.
The number of new homes being built in the country also grew by 5% from 2017 to 2018, Zilow said, while the number of homes that are in foreclosure declined by 5%.
Zillowers data shows that the number that are foreclosed on has declined by about 20% since the middle of last year.
The Zillovis data comes after President Donald Trump has taken steps to help low-income people by increasing the minimum wage, and his plan to overhaul the nation’s tax code.
The housing market is expected to rebound once more during the summer, Zills said.
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