People also ask

  • Why is rent so high right now?

  • Rent is surging for a number of reasons, including more certainty in the job market and young people moving out on their own as pandemic restrictions end, says Nicole Bachaud, a market analyst at Zillow. Many people left cities and others moved in with family members in 2020, but that reversing now.

  • Why are more people choosing to rent instead of buy?

  • Even people who could afford to buy are choosing to rent ?they aren’t ready for the long-term debt. Itzel Alarcon recently moved into a rental development near Denver. She says she’s renting for now because she saw relatives hurt by the housing crash and is worried that home values might drop again.

  • Why are there still fewer homes for sale now?

  • Instead of swelling inventories, there are even fewer homes for sale now than there were at this time last year ?20% fewer ?and price declines have barely registered. So what going on? Why, during a time of widespread unemployment and dramatic economic decline, are there still relatively few homes for sale?

  • What’s wrong with the housing market?

  • 淭he real critical issue that has plagued the housing market is supply,?according to Schlesinger. 淒own 30 percent for existing homes. When you have a ton of people coming into the market, and limited supply, numbers are higher.