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
Nation Faces Unprecedented Housing Shortage
Dated: March 3 2021
If you are a Buyer looking in today's real estate market you already have realized that inventory is very low. The pandemic has caused higher prices and bidding wars on most properties. In January the housing inventory decreased by 43% compared with the same month last year. New listings coming on the market decreased by 23% year over year. Home prices on average rose 15.4% annually to $346K in January as a result of the shortage. Buyers should be prepared for a competitive spring home-buying season. You can watch my video "The Most Clever Tips on Home Finance and Budgeting" to learn one method of winning a successful bid. There were 443K fewer homes up for grasp this year than last year and while builders have ramped up they haven't made much of a dent yet. Although prices vary by region the Northeast had the highest increase of 16.8% with the South having the lowest of 8%. of the nation's 50 largest metro areas Austin, Texas showed the most increase of 30.2%. Only 2 metro areas showed an increase in housing inventory, San Jose and San Francisco CA. 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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