The U.S. housing market is suffering from its lowest supply in history, and that is taking an increasingly hard toll on sales.
US Homes "Snatched Up Right Away" As Market Drained Of Supply
(Bloomberg) -- Last year’s pandemic housing rush is now this year’s end-of-lockdown feeding frenzy.Across the U.S., house hunters are fighting for scraps in a market picked clean of listings during the key spring homebuying season. Bidding wars are the norm. Strategies like waiving inspections to secure deals, common for years in hot West Coast tech hubs, are popping up in places from Buffalo, New York, to Salt Lake City.Demand is so fierce that almost half of U.S. homes are selling within a...
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Redfin Corp. said Friday that the median price for homes sold rose 16% from a year ago to a record $331,590 during the four-week period ending March 21. Although the average sales price was 5.3% below the average asking price of $349,973, a record 39% of homes sold were priced above their list price, up from 24% a year ago, the real estate brokerage company said. A record 58% of homes that went under contract had an accepted offer within the first two weeks on the market. The supply of homes...
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Figures released by the Real Estate Institute of Western Australia indicate Perth properties are selling at their fastest rate in 15 years.
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