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Housing Trends

Home prices surged in August, industry report shows

Changes brought on by COVID-19 are fueling the increase

Six months into the coronavirus (COVID-19) pandemic, structural changes are occurring that continue to drive up the price of a home.

Real estate brokerage firm Redfin reports that the median price of homes selling in August rose 13 percent year-over-year to a record $319,178 -- the largest increase since 2013. In the last six months, a growing imbalance between buyers and sellers has ignited housing inflation. 

The necessity to work from home has suddenly made many apartm...

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