The median is also going up because we have a huge class of homes that is just starting to hit the resale market. There was very little in the way of new construction between the Late 80’s and around 1999. Since then there has been a huge amount of “bigger and better” homes built. To understand what is happening to the median you really need to know about the house that the median represents. In 1999 it was probably a house built in the 70’s while now it is probably something built in the 90’s.
