The percentage of homes nationwide that are worth at least seven figures has nearly doubled since the start of the pandemic.
That’s according to a new report from Redfin RDFN, which projects the number of homes nationwide that are now worth $1 million or more. Thanks to skyrocketing home prices in today’s hot real-estate market, the number has nearly doubled since the start of the pandemic.That’s according to a new report from Redfin RDFN , which projects the number of homes nationwide that are now worth $1 million or more.
The analysis was based on Redfin’s Housing Value Index, which incorporates public records, data from the multiple-listing service and Redfin’s proprietary home value estimates. The analysis incorporated historical data for more than 85 million properties nationwide, including single-family homes, condos, townhouses and other multifamily properties.
“Incomes have increased, but not as fast as home prices, which means many people are stuck renting or have to move somewhere more affordable if they want to buy a home,” Marr added.
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