While the pandemic has negatively impacted many industries, the housing market experienced higher gains in 2020 than in the past decade. The most recent trend is rising housing prices in the middle of the country.
“House prices recorded their strongest quarterly gain in the history of the FHFA HPI purchase-only series in the third quarter of 2020,” said Dr. Lynn Fisher, Deputy Director of the Division of Research and Statistics at FHFA.
U.S. house prices were up by 7.8% in Q3 2020 compared to Q3 2019, according to Federal Housing Finance Agency. The third quarter of 2020 saw the biggest QoQ gain of 3.1 percent in house prices since Q1 2006.
As homes take additional roles of being offices and conference rooms, the demand “continues to outpace the supply of homes available for sal…