U.S. Housing Shortage Increases in March, Driving Prices Up 18 Percent

Source: The World Property Journal — 

U.S. property broker Redfin is reporting this week that the median home-sale price increased 18% year over year to $344,625–an all-time high.

Mortgage purchase applications increased 6% week over week (seasonally adjusted). For the week ending April 22, 30-year mortgage rates fell to 2.97%, the lowest level since the week ending February 25.