Question: You were recently looking at the historical pries paid for homes in a neighborhood that you are interested in. The data that you found, average

You were recently looking at the historical pries paid for homes in a neighborhood that you are interested in. The data that you found, average price paid, is given below. Calculate on a year-to-year basis how home prices in this neighborhood have inflated (a-e in the table below). (f) What is your estimate of the inflation rate for this year?

You were recently looking at the historical

Average Home Price Inflation Rate for That Year Year 5 years ago 4 years ago 3 years ago 2 years ago last year this year $165,000 167,000 172,000 180,000 183,000 190,000 (b (f, see below)

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