07/07/2020

Pandemic Pushes Affordable Home Prices Higher

Mreport

Redfin revealed that prices of affordable homes in America have risen 5% during the pandemic.

It appears that low mortgage rates have attracted more buyers to jump into the market, throwing their hats—and home bids—into the ring recently. This increased in buyer interest and activity is especially seen in the niche of first-time buyers. This increase in demand, coupled with the still-present supply shortage of homes for sale—has driven prices of the most affordable homes in the nation up 5% (year over year) just within the short time window from May 31 until now. In contrast, the home prices for the most expensive homes in the U.S. merely saw an increase of 2%...click here to read more