Advice Topics
- Buying (186)
- Selling (201)
- Renting (40)
- Market News & Trends (12)
- Finance & Legal Info (87)
- Tips & Advice (93)
- Working With an Agent (54)
- Marketing (4)
- Investing (15)
- Affordable Housing (15)
- Green Housing (2)
- Schools (1)
- Remodeling (31)
- International Real Estate (8)
- Terms & Definitions (24)
- Home Loans (12)
Top Contributors (View All)
Find a Top Real Estate Agent Near You
Why are home prices so high?
Why are home prices so high? Even homes outside of my desired area are so expensive. I've been trying to save to buy a house, but the downpayment I planned now doesn't get me what I want.
Asked By Angelica | Phoenix, AZ | 330 views | Buying | 1 year ago
Answer(3)
Lisa and Greg Harris
eXp Realty, LLC
1st Supply and demand cause the increase, especially in areas where we are seeing mass amounts of moving into an area to "escape" other areas. The rising cost of building is driving prices, which are also aggravated by inflation. The fact that there are areas, where the inventory supply is low and more buyers want to move to an area than there are homes available is the biggest factor!
- 1 year ago
Helpful (0)
Unhelpful (0)
Jamie Merwin
ZMD REALTY
Many factors including Supply & Depand and Inflation.
- 1 year ago
- Helpful (0)
- Unhelpful (0)
Are you ready to find a top agent near you?
Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.
Robbie Holycross
West USA
While home prices have been high due to strong demand and limited inventory over the past few years, prices have started to stabilize recently thanks to increased inventory. More homes on the market are giving buyers more options and easing some of the upward pressure on prices.
That said, it’s still important to know about resources like down payment assistance programs and new build financing options with low interest rates, which can make buying a home more affordable. Remember, the first home you buy usually isn’t your dream home—it’s about getting your foot in the door, building equity, and positioning yourself to upgrade when the time is right. With the right guidance and strategy, homeownership is achievable in today’s market.
- 2 weeks ago
- Helpful (0)
- Unhelpful (0)
Related Questions
-
What is the first step in buying a home?
- Asked by Mike M.
- 992 views
- Buying
- 4 years ago
-
How to buy a house without closing costs or down payments?
- Asked by Timothy S.
- 1083 views
- Buying
- 4 years ago