Home prices rose 2.4 times faster than inflation since 1960s, study finds. What that means for homebuyers

In this articleRDFNWestend61 | Westend61 | Getty ImagesWhile inflation is 10 times higher now than 60 years ago, home prices are 24 times more expensive, a new study found.If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to a new research report by Clever, a real estate data company.In reality, the cost of a typical house in the U.S. is closer to half a million dollars. The median price for a home in the U.S. is $412,778, according to new Redfin data."Today, it's harder for adults to buy homes than it was for their parents' generation," said Matt Brannon, a data writer at Clever and the author of the report.More from Personal Finance: When sellers should list their home in 2024 to earn a premiumHow to use rent reporting services to improve creditHere are the 'Barbie' jobs that most real-life women holdWhy home price growth has outpaced inflationWhile mortgage rates have contributed to high co...