The average price of a home sold in the United States in 1980 was $47,200 and the average income was $21,063. In 2018, the average price for a home was $380,000, and the average income was $63,179.1) Find the relative change in housing prices from 1980 to 2018.

The relative change in housingbprices from 1980 to 2018 is 705.08475

Step-by-step explanation:

In 1980, the average price of houses was $47,200

In 2018, the average price of houses was $380,000.

The relative change in housing prices from 1980 to 2018 = [ (current prices) - (old prices) ] / (old prices) * 100

= (380000 - 47200) / 47200 * 100

= 332800/47200 * 100

= 7.0508475 * 100

= 705.08475