By Mark Thompson / ReutersWASHINGTON – The United States is the least expensive real-estate market in history, according to an analysis by the Center for Responsive Politics.
The report, which analyzes data from the Federal Reserve, showed that in 2019 the U,S.
real estate markets cost $1.25 trillion, the most since 2007.
It was the second-most expensive year on record.
The report’s authors did not provide specific prices for homes.
The United States had a $3.7 trillion national housing market in 2019, with the average home costing $1,918,092, according the report.
That’s up $5,400 from the previous year and up $400 from a year ago.
The housing market was hit hard by the mortgage crisis in 2008, which cost the economy $9.9 trillion in lost economic output and $6.9 billion in lost income.
The median home price in the United States in 2019 was $1 million, up $1 in seven years.
The median home value in the country was $2.2 million, down $400 in seven year.
The average price of a home is $1 billion, up more than $3 billion from a decade ago.
For the first time in decades, home values rose more than 3 percent in the U., but only by $500,000.
That compares with a 4.4 percent increase in housing prices across the rest of the country.
The gains were concentrated in the South and the West.
The National Association of Realtors said the rise in housing costs has created a strong demand for homes in a time of stagnant or falling prices.
“Real-estate buyers have more choices than ever,” said Michael Molloy, president of the National Association.
“Home prices have risen for decades and still are well above the levels reached before the recession.
Today’s market continues to deliver solid returns on investment.”