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Prices are cooling in the West, but the market in the East is still hot. We check in with a real estate pro in the center of the divide.
A new report from ATTOM says it’s now cheaper to rent than own a place in most parts of the country.
Sharing a home with a nonromantic adult can come with big benefits, in addition to the break in rent.
September data shows they were still higher than a year earlier, though.
“The average days on market has gone from less than a week up to about 89 days,” says broker Amanda Pohlman of Keller Williams Living.
There’s a significant gap between the appraised price of homes in white neighborhoods and that of similar homes in communities of color, and it’s getting worse, one study says.
As interest rates climb, people who own homes with low mortgage rates have little incentive to sell, keeping the supply tight.
Trade groups say the industry is in recession, but prices are still high and foreclosures are low.
Higher home prices and the Federal Reserve’s efforts to curb inflation are responsible for much of the slowing market.
The housing market is cooling a little. But there still aren’t that many homes for sale, just more than last year.