According to a Federal Housing Finance Agency report, home prices posted the largest ever year-over-year gains since the beginning of the FHFA House Price Index. Home prices across the country rose 18.5% this past year. Specifically, the “mountain division”, including Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming, went up 25% in the third quarter of this year. Annual gains can be seen in housing prices in every area of the country in 2021. As has been the case throughout the entirety of 2021, low inventory and high demand continue to play a part in the rising home prices in the United States. While home price increases month to month have started to slow, there is no doubt the demand for housing will remain high going into the new year.
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