Long Island Home Prices Soar With Elevated Demand, Low Inventory
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Given our region’s strong economic system, restricted supply of developable land and overall desirability as a place to reside, it is no surprise that Bay Area home sale costs significantly exceed the national common. Home prices discuss with the cost of buying a home or condominium, as well as any associated land. Consumers and analysts monitor house sale costs as an indicator of both the region’s financial well being in addition to housing affordability. In the spring, the pandemic forced many main cities into lockdown and largely put the housing market on pause. The shortage of accessible houses worsened as potential sellers put off itemizing their houses. While lockdown chased some buyers away, the stability between supply and demand remained largely the identical as it had been, keeping costs excessive. Prior to the pandemic, housing markets had been affected by both a extreme … Read More