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15 Counties With the Largest Home Price Increases in 2021

Money Talks News Logo By Inspection Support Network Editors of Money Talks News | Slide 1 of 17: Editor's Note: This story originally appeared on Inspection Support Network. The COVID-19 pandemic has brought many changes to the economy, and one of the most profound impacts has been on the residential real estate market in the U.S. For more than a year and a half, an unusual combination of factors has left would-be homebuyers navigating a highly competitive market with prices growing at an extremely rapid pace. One of the major challenges has been supply. Late in 2020, the inventory of homes for sale fell to all-time low levels, while supply chain challenges and a tight labor market have made it difficult for builders to complete new homes. On the demand side, more homebuyers — many of them first- or second-time buyers of the millennial generation — have been enticed to enter the market thanks to low mortgage rates and high savings and investment returns during the pandemic. And while recent months have shown signs that the market may be cooling off, elevated prices may be the new normal in the residential market. The data used in this analysis is from Zillow Group’s Zillow Home Value Index (ZHVI) and the U.S. Census Bureau’s American Community Survey. To identify the counties with the largest home price increases in 2021, researchers at Inspection Support Network calculated the percentage change in the ZHVI between October 2020 and October 2021. Here are the counties with the biggest home price increases in 2021. It’s not the usual blah, blah, blah. Click here to sign up for our free newsletter. Sponsored: Find the right financial adviser Finding a financial adviser you can trust doesn’t have to be hard. A great place to start is with SmartAsset’s free financial adviser matching tool, which connects you with up to three qualified financial advisers in five minutes. Each adviser is vetted by SmartAsset and is legally required to act in your best interests. If you’re ready to be matched with local advisers who will help you reach your financial goals, get started now.

15 Counties With the Largest Home Price Increases in 2021

Editor's Note: This story originally appeared on Inspection Support Network.

The COVID-19 pandemic has brought many changes to the economy, and one of the most profound impacts has been on the residential real estate market in the U.S.

For more than a year and a half, an unusual combination of factors has left would-be homebuyers navigating a highly competitive market with prices growing at an extremely rapid pace. One of the major challenges has been supply.

Late in 2020, the inventory of homes for sale fell to all-time low levels, while supply chain challenges and a tight labor market have made it difficult for builders to complete new homes. On the demand side, more homebuyers — many of them first- or second-time buyers of the millennial generation — have been enticed to enter the market thanks to low mortgage rates and high savings and investment returns during the pandemic.

And while recent months have shown signs that the market may be cooling off, elevated prices may be the new normal in the residential market.

The data used in this analysis is from Zillow Group’s Zillow Home Value Index (ZHVI) and the U.S. Census Bureau’s American Community Survey. To identify the counties with the largest home price increases in 2021, researchers at Inspection Support Network calculated the percentage change in the ZHVI between October 2020 and October 2021.

Here are the counties with the biggest home price increases in 2021.

It’s not the usual blah, blah, blah. Click here to sign up for our free newsletter.

Sponsored: Find the right financial adviser

Finding a financial adviser you can trust doesn’t have to be hard. A great place to start is with SmartAsset’s free financial adviser matching tool, which connects you with up to three qualified financial advisers in five minutes. Each adviser is vetted by SmartAsset and is legally required to act in your best interests.

If you’re ready to be matched with local advisers who will help you reach your financial goals, get started now.

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