Price cuts hit the pandemic’s hottest housing markets: Redfin
Price cuts hit the pandemic’s hottest housing markets: Redfin
Abstract
Nearly half of homes for sale in Provo, Utah, had a price drop in May, Redfin found. Seattle and Harrisburg, Pennsylvania also reported a more than 40% share of reduced prices. North Port, Florida, had the nation's largest price growth, rising 30.5% since last year to $475,000. The month-to-month increase in May was the smallest since Redfin began tracking this data in 2012. The good news is that cheap debt is no longer fueling unsustainable home price growth. Prices rose 14.8% over May 2021, and existing homeowners are in a good position, says Redfin.
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