Median Cost Of New Homes Soars

Why should you own a home? Just look at the rising cost of new construction for a hint.

In 2003, the median cost of a new home was $103 per square foot, 16 years later, the cost is $173/sqft, an annual increase of 3.27% per year.

Take a look at what it is likely to be in 16 years and what that will mean for homeownership in this week’s special report.