A new report from the National Association of REALTORS finds that 88% of the 161 metro areas they track posted annual double-digit price gains in the 4th quarter of 2020. Surprisingly the Washington DC metro area was not in the top 10 price increases, with Bridgeport, Connecticut leading the surge with a 39.2% year over year gain. NAR is also seeing the same trend I’m seeing, in that many urban homeowners are looking to either move away from cities and dense populations to more rural settings, with many looking for 2nd homes and vacation homes. This trend is being driven by what NAR describes as “new work-from-home freedoms”.
You can read the whole article here. As always, feel free contact me for a free home valuation or market assessment.
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