Home values are skyrocketing at the fastest pace since 2006

Bad news for prospective home buyers: The rapid appreciation in home values shows no sign of letting up.

Median home values increased 8.7% on average nationwide from April 2017 to $215,600, according to a new report from real-estate website ZillowZG, -0.75% That represents the faster pace of acceleration since June 2006 — right before the start of the housing crisis that triggered the Great Recession — when they rose 9% annually.

The usual suspects were once again at play in April, according to Zillow. The supply of housing in many cities has remained tight, thanks in part to the slow pace of new construction.

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