Rising demand and limited supply have driven U.S. home prices up by nearly 4% so far in 2024. Many coastal areas experience price increases exceeding the national average.
Coastal communities are some of the most popular places to live in the U.S. However, the oceanfront real estate supply is fixed, leading to rising prices due to high demand.
According to data from Realtor.com, as of September 2024, the typical American home was listed for $425,000, marking a 3.8% increase from January 2024's median price.
While the overall trend in Texas shows median home prices climbing at about 4.2%, not all coastal housing markets follow suit, with some seeing over 15% increases in 2024.
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