For-sale inventory has dropped across the country by 10% since last December of 2016. This drop in inventory has been falling for the past 35 months. Accompanying the fall in inventory is a rise in sales price as supply continues to fail to keep up with demand. Nationally, home values rose 6.5 percent over the past year with San Jose, Las Vegas, and Seattle seeing the highest increase. Median rents in the U.S. rose 2.6 percent over the past year, with the fastest appreciating rental markets on the West Coast.
The national median home value rose to $206,300 in December. Representing a 6.5% annual increase continuing the growth occurring over the last five years. Costs are also rising for Renters with Sacramento, Calif., Riverside, Calif., and Seattle reporting the greatest growth. Median rent in Riverside rose 6 percent over the past year.