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Home Prices Expected to Increase Faster than Overall Rent Growth in Many States

By Gay Cororaton, Research Economist, NATIONAL ASSOCIATION OF REALTORS®

Tight inventory and a pick-up in demand for homes as the economy continues to grow at a healthy pace have pushed up home prices. As of July 2015, the median price of all existing homes across the U.S. was $234,000, up 6 percent from a year ago, and at this level, the median price is now slightly above its peak of $230,400 prior to the housing downturn.

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