To say the U.S. housing market is on fire is an understatement these days. National property broker Redfin is reporting this week that the national median home-sale price in the U.S. hit a record high of $353,000 in March 2021, up 17% from 2020 and a record high rate of growth.

The U.S. housing market set several other records in March 2021, even considering the fact that year-over-year comparisons are now looking at the start of the pandemic:

  • The number of homes for sale fell to a record low, with a record year-over-year drop of 29%.
  • The typical home sold in just 25 days, a record low.
  • 42% of homes sold above their list price, a record high.
  • The average sale-to-list ratio, a measure of how close homes are selling to their asking prices, hit a record high, passing 100% for the first time.

Year-over-year comparisons may more reflect the fact that in March 2020, stay-at-home-orders…

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