As single-family home prices continue to soar, and more multifamily investors are entering the SFR and BTR spaces, Markerr looked at monthly transactions across the top 100 MSAs going back to January 2000 and found the following trends:
Median Home Prices Reach a New All-Time High in Nov. 2021
Prices continue to move higher in a seasonally slow period, reaching a new all-time high median home price of ~$373,000 in November 2021.
The best performing markets YTD through Nov. 2021 are Austin, Boise, and Raleigh with an average YoY increase of 35.5%, and Sunbelt markets dominate the rest of the Top 10:
Price Growth Remains Higher than Historical Norm, Marginally Accelerating
The month-over-month change shows a marginally increasing pace of growth. The sequential change is still ~90 bps higher than the historical average pace of month-over-month change. Acceleration moved 10 bps higher month-over-month, which suggests continued strength in home prices in 2022 and beyond.
The markets with the greatest sequential growth are located in the Carolinas and Florida:
Source: Markerr’s Property dataset is comprised of over 150 million total properties across the U.S., with over 90 million single-family homes represented. We track home prices by looking at the transaction price by date and associated address, to build a time series across MSA.