As dramatic rent prices impact states across the nation, renters are searching for more affordable places to call home. Nationally, the median rent price is up over 16% since January, with some cities seeing double that, according to a recent Apartment List report.
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Demand for second homes was up 70% from pre-pandemic levels in October, according to a new report from Redfin. This outpaced August’s 48% gain but was below January’s record 91% growth.
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Boston and Raleigh had the highest bidding-war rates, as the rate fell to a 2021 low.
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Lack of inventory continues to restrict home sales as fewer homes sold in September, and closed home sales dropped.
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Asking prices for homes reached an all-time high in September, despite pending sales and new listings cooling.
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Housing affordability has changed across all 50 top markets, proving to be more affordable than it was during the previous housing peak, according to First American Financial’s latest Real House Price Index.
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Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.
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