The U.S. Cities Where the Number of Homes for Sale Is Still Plummeting—by Record Numbers

By Sara Ventiera

October 3, 2022

It’s official: The housing market has swiveled 180 degrees away from the COVID-19 buying spree.

Finding a move-in ready home at just right the price in a desirable area has been a near impossible feat over the past couple of years. But as higher mortgage rates have lately made purchasing real estate significantly more expensive, homes aren’t selling nearly as quickly. Instead, they’re sitting on the market longer and many sellers are even having to cut prices to attract buyers. That’s led the number of homes for sale to pile up a bit, with about 26.9% nationally more for sale year over year in September.

Yup, buying a home may be more expensive for today’s buyers—but at least there are way more to choose from. Right?

Well, not everywhere, it turns out.

Some metropolitan areas are bucking this national trend. These are cities where homes are selling briskly, competition remains fierce, and available homes are scarcer than peak COVID-19-era toilet paper. READ MORE

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