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Almost 6,000 U.S. Homes Have Sold for at Least $100,000 Above Asking Price in 2022

Pro Builder

Elevated competition from rising mortgage rates and low inventory is driving up sale prices in popular metros like Los Angeles, where 718 homes sold for at least $100,000 above the asking price from January 1 to February 15, Redfin reports. Los Angeles, even more than most other parts of the U.S., as a whole. .

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Migrating Americans Are Driving Up Home Prices in Popular Metros

Pro Builder

Remote workers and movers motivated by the pandemic are flocking to Sun Belt cities like Phoenix, where prices are peaking and inventory is declining. Migrating Americans Are Driving Up Home Prices in Popular Metros. Tue, 02/08/2022 - 12:10.

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10 of the Hardest Metros to Snag a Home

Pro Builder

market while housing inventory is down, resulting in a competitive market, but these metros are the most competitive. SmartAsset identified the hardest places to purchase a home in America by analyzing the affordability, inventory, and pricing levels of the top 50 U.S. Los Angeles-Long Beach-Anaheim, CA.

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Bay Area Tech Workers Flee to Lake Tahoe, Dramatically Reducing Housing Supply

Pro Builder

CNBC reports that Lake Tahoe area brokers are seeing an inventory shrinkage like no other, with only one-fifth to one-tenth of the usual listings available. One broker says all-cash offers are coming in like never before, primarily from tech workers and investors in the Bay Area, but also media types from Los Angeles.

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Here Are the Most and Least Affordable Housing Markets in December 2022

Pro Builder

metros are home to skyrocketing prices and waning housing inventory, while others offer first-time buyers an affordable entrance into the for-sale market. Los Angeles and New York followed — no surprise given their steep home prices. Here Are the Most and Least Affordable Housing Markets in December 2022. Some major U.S.

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Rental Market Recovers Faster Than Predicted

Pro Builder

There’s rebalancing in the for-sale market as well with inventory increasing for the third consecutive month and home value growth slowing in many of the largest markets. Only nine metros are yet to catch up with their projected levels, mainly concentrated in more-expensive coastal markets: Los Angeles, Washington D.C.,

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Median Home Listing Price Now $370,000

Pro Builder

Metros with the fastest rising listing prices include Austin, TX with prices 40% higher; Buffalo, NY with prices up 28.2%; and Los Angeles with a 24.8% That’s even lower than this past February when inventory fell 48.6%. Since Austin is the best market in the country it’s no surprise inventory declined there 72.7%