Syndication: Sarasota Herald-Tribune
(NASDAQ: RDFN) — Housing markets in relatively affordable Midwest and East Coast metro areas are holding up better than anywhere else in the country, according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
Lake County, Illinois — located about 45 miles north of Chicago — is holding up better than any other metro in this analysis. It’s followed by Albany, NY and Chicago.
Rounding out the top 10 are New Haven, CT; Milwaukee; New Brunswick, NJ; Elgin, IL; Bridgeport, CT; Pittsburgh and El Paso, TX. Nine of the 10 housing markets holding up best are located either in the Midwest or on the East Coast.
The typical home in eight of the 10 markets costs less than the national median sale price of $407,000; New Brunswick ($480,000) and Bridgeport ($590,000) are the exceptions. On the other end of the spectrum, almost all of the housing markets cooling fastest are West Coast metros that have long been expensive or pandemic migration hotspots that went from affordable to not-so-affordable over the last two years.
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