This week’s house price boom is a bubble, and you should be aware of that.
A new report from real estate analytics firm Zillow is out this week that details the trend and the risks of buying a home in the United States.
The company’s analysis suggests that, in 2019, the median house price in the country is $846,000.
That’s up from $762,000 in 2016.
The report notes that median household income rose from $57,000 to $67,000 from 2016 to 2019.
This is a huge increase from just a few years ago, when median household incomes were down by 6.3%.
While the overall increase in median household disposable income in the US is down, it is the percentage of households making more than $1 million a year that is going up.
According to Zillows numbers, median income is up more than 6.5% since 2016, which is a bit less than 1% of the overall population.
ZillOW also shows that median home price rose 6.9% in the past year.
This means the median home sale price in 2019 was $564,000, up 6.7%.
Median sales price rose 2.9%, up from 2.7% in 2016, according to Zellow.
There are also several other important trends to note about the median US house price increase.
First, the average price of a single family home went up 5.6% in 2019 to $3,063,000; the median price of two-family homes went up 7.4% to $2,853,000 and the median prices of three-family houses rose 5.5%, to $1,636,000 each.
The median price for single-family home sales rose 12.7%, from $1.9 million in 2016 to $4.3 million in 2019.
Zellows numbers also show that median prices increased by $12,000 for two- and three-bedroom homes, respectively.
Median sales prices rose $11,500 for three- and four-bedroom houses, respectively, from $4,700 to $5,300 in 2019 and $12 $13,000 on average for three and four bedroom homes.
The second important trend is that median housing prices increased 2.8% in real terms between 2016 and 2019.
According the Zillower report, median home prices for all units went up by 6%, and median prices for single and multifamily homes increased 5.3%, to an average of $1.,868,000 per unit.
Median price increases for two-, three-and four-family households were up 4.6%, and for single families up 6%, to the average of about $1 billion per family.
The most important trends from the Zellower report this year are: The average sale price of one- and two-bedroom home sales increased 7.2%, from about $6,500 to about $7,500; and the average sale prices for two and three bedroom homes rose 7.9%.
The average home sale prices rose by 3.4%.
The median sale price for a three- or four-bed home was $2.3, up from just $1 at the beginning of the year.
Median home prices rose 6% for all households.
The next big story is that the median household rent is up 1.9 percentage points.
This increase was mostly driven by increases in the median rent for two, three and and four person households, which rose by 6% in two-person households, 3.5%.
The second big story from Zellowing is the growth of rental housing.
The Zillowed data show that rental units are up 8.5 percentage points in real time.
This makes the median rental rent rise 5.2% in five years.
The growth in the rental market has led to a surge in the cost of living for many Americans, but the cost is also a big part of the housing market story.
Median household income is also up 5%, from the $57k-million range in 2016 for the median wage in 2019 ($55,000).
This means that the average income for a two-parent family with two children is about $60,000 a year, up 9.1% from the same income in 2016 and up 5% from in 2019 when median income was $54,000 (for the same time period).
The number of people in the workforce is also growing.
Zendesk reported that median monthly income for people with a college degree rose by 8.7 percent in 2019 (from $27,000) and by 9.4 percent for people without a college education (from the $26,000 range in 2019).
Median household incomes are up 12.3% for people aged 50 and over and by 8% for seniors.
The number and type of people who are living in their home increased by 8 percent and 10.5 percent