Reveal Your Neighborhood's Insanely High House Sale Prices
Factors Driving High House Prices
Several elements contribute to the surge in house prices. Firstly, historically low mortgage rates have made borrowing cheaper, encouraging more people to enter the housing market. Secondly, the pandemic has reshaped living preferences, with many individuals seeking larger homes or properties in suburban areas, thereby increasing demand1. Additionally, supply chain disruptions and labor shortages have slowed new construction, exacerbating the existing supply-demand imbalance2.