Replacement Cost vs. Market Value: What's the Difference?
Posted: May 1, 2024
Replacement Cost vs. Market Value: What's the Difference?If you were asked to describe the state of the housing market over the past few years, it could be summarized in one word: expensive.According to Home Bay, a real estate education platform, U.S. home prices increased an astounding 42% in the three years between March 2020 and March 2023.That data also showed that the national median home price rose to $468,000 as of 2022,...