Article content summary Zillow investigation… [Massachusetts = AP/Seoul] A sign for sale is erected in front of a house in Westwood, Massachusetts, on October 6, 2020. 2021.08.20. *Photos are not related to the content of the text. *Resale and DB prohibited
[Seoul=Newsis] Reporter Yujabi = As the US housing market is booming, many US homeowners made more money from rising house prices than their earned income last year, the Wall Street Journal reported on the 17th.
According to the report, the housing value index of Zillow Group, an American real estate information company that estimates typical American home prices, rose 19.6% last year to $321,634.
Housing prices rose by $52,667 from 2020, which is higher than the median income of $50,000 for full-time U.S. full-time workers last year.
It is the first time since Zillow compiled related statistics in 2000 that the annual increase in house prices has exceeded the median pre-tax income, which reflects inflation.
Home prices surged last year as low mortgage rates stimulated buyer demand and the number of homes on the market remained unusually low. The telecommuting trend due to the pandemic also had an impact.
The WSJ noted that the surge in house prices last year was a boon for homeowners, but made it more difficult for first-time buyers to enter the housing market.
