Report: Home prices have exceeded inflation by over 200% since 2020

Nationwide, home prices have risen significantly faster (42%) than inflation (14%), a new report by real estate company Clever found. Inflation has made it difficult for potential buyers to afford homeownership as lenders have increased mortgage rates and tightened lending standards. To-date, the average national mortgage rate is 6.97% — compared to 3.58% in March 2021. The report used data from the St. Louis Federal Reserve, Zillow, the Board of Governors of the Federal Reserve System and the…Original Article