Business Insider reports that there are now close to 15 million new properties on the U.S. market, according to the NAR, which reports that American home values are growing faster than the previous six years:
“…it’s the first time home values exceeded last year’s gains at this time. November’s 10.1% increase in values — the 16th straight month of gains — means that growth in home values is outpacing the same point in the six years ending in 2017. After last year’s gains of 9.7%, the increase this year was quicker than the 8.7% in 2013, the year that showed the lowest growth. It was 8.5% in 2012 and 5.5% in 2011, according to the National Association of Realtors. This month’s figures include data from the all-cash home buyer. The share of sales going to cash buyers hit 18.7% in November, NAR data shows, the highest share recorded since July 2014.
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Richard Barrington is an independent financial writer and editor at MoneyRates.com, an independent finance website.