While home prices are rising across the nation, those in the central states are rising faster than in large cities on the coasts, bucking tradition. Prices in any smaller metro area are now at least
Home prices are rising faster in the middle of the U S
Dated: March 6 2021
While home prices are rising across the nation, those in the central states are rising faster than in large cities on the coasts, bucking tradition. Prices in any smaller metro area are now at least 10% higher year over year. People are leaving larger, more expensive metro markets and heading to less expensive markets where they can get more space for their money. Nationally home prices increased 15.4% year over year in January 2021, up from a 13.4% gain in December, and are predicted to remain sizzling hot in the coming months. Traditionally more affordable markets are becoming less affordable as prices rise faster. Mortgage rates set record lows in 2020, fueling the demand for housing by giving buyers more purchasing power. These rates are not expected to rise in 2021. An incrementally improving economy should encourage more buyers to enter the market as price appreciation continues in mid-2021. Ask me all your real estate questions. www.davidlasley.realtor #davidlasley #douglasrealty #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket
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