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Old 06-06-2020, 12:14 PM
 
179 posts, read 106,987 times
Reputation: 145

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https://finance.yahoo.com/news/summe...184938968.html
Quote:
Home prices are higher than ever, hitting a median listing price high of $330,000 in May. After only a 0.6% annual price growth in April, the slowest pace in three years, home prices rose 1.6% in May year-over-year. And in the last week of May, prices rose 3.1% from the same time last year.

Of the nation’s top 50 cities, 35 posted price growth in May. Prices rose the most in Los Angeles, Pittsburgh and Cincinnati. And economists expect listing prices to rise even higher this summer.
They also mention Pittsburgh as having some of the slowest sales activity.
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Old 06-06-2020, 12:38 PM
 
1,952 posts, read 1,132,935 times
Reputation: 736
Summer is always good for housing and it doesn't surprise me Pittsburgh lagged since we were one of the few states that still had real estate designated as non essential so mostly shut down. Things are picking up but so far I do not see the strength in lower priced homes as we were prior. Those out there seem a little more hesitant to commit, maybe unsure if more will come to market as people get more comfortable. Still Pittsburgh inventory is at near record lows.
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Old 06-06-2020, 02:00 PM
 
Location: Lawrenceville, Pittsburgh
2,109 posts, read 2,161,058 times
Reputation: 1845
My wife and I have been looking for a house for somewhere between 12 and 18 months. It has been immensely painful as inventory is insanely low. A few places came to market recently after very little through March and April, but the market here has honestly been slow for a couple of years.
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Old 06-06-2020, 07:50 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,620 posts, read 77,640,448 times
Reputation: 19102
Quote:
Originally Posted by WhoIsStanwix? View Post
My wife and I have been looking for a house for somewhere between 12 and 18 months. It has been immensely painful as inventory is insanely low. A few places came to market recently after very little through March and April, but the market here has honestly been slow for a couple of years.
Yep. A colleague of mine wants to buy her first home in the city. She’s having no luck because there’s nothing on the market. If this continues I would expect housing prices to spike here.
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Old 06-07-2020, 06:49 AM
 
6,358 posts, read 5,058,732 times
Reputation: 3309
Quote:
Originally Posted by WhoIsStanwix? View Post
My wife and I have been looking for a house for somewhere between 12 and 18 months. It has been immensely painful as inventory is insanely low. A few places came to market recently after very little through March and April, but the market here has honestly been slow for a couple of years.
i for one have definitely missed the boat. im well-off (from working hard, and sometimes more than one job) for a decade now, after returning to this city, but...i waited...and waited...hmmm, nice house - nah, too big, too small, bad neighborhood, ugly house....

and now, forget it. the homes are way too expensive.
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Old 06-07-2020, 07:46 AM
 
Location: Lawrenceville, Pittsburgh
2,109 posts, read 2,161,058 times
Reputation: 1845
Quote:
Originally Posted by szug-bot View Post
i for one have definitely missed the boat. im well-off (from working hard, and sometimes more than one job) for a decade now, after returning to this city, but...i waited...and waited...hmmm, nice house - nah, too big, too small, bad neighborhood, ugly house....

and now, forget it. the homes are way too expensive.
I feel you...very similar boat. However, I’m fortunate to have bought in Lawrenceville before it peaked (but not by much) and found a deal. I should get out what I have into it over 4-5 years. I think our next move is to buy something that needs a lot of work (again) and suck it up.
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Old 06-07-2020, 06:21 PM
 
Location: Atlanta
994 posts, read 502,495 times
Reputation: 588
Summer is always good - warm weather, schools out etc. This summer will still see the impact of the virus, but fortunately for people who are able to buy, social distancing is very doable for real estate...
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Old 06-07-2020, 06:28 PM
 
Location: Downtown Cranberry Twp.
41,016 posts, read 18,224,042 times
Reputation: 8528
Quote:
Originally Posted by Joe_P View Post
Summer is always good - warm weather, schools out etc. This summer will still see the impact of the virus, but fortunately for people who are able to buy, social distancing is very doable for real estate...
Why will it see the impact of the virus?

Social distancing could’ve been done all along for real estate. There was no need to consider it non-essential.
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Old 06-07-2020, 09:18 PM
 
3,291 posts, read 2,775,957 times
Reputation: 3375
Government jobs should have been the first ones called non essential, and they should have gotten no pay until they stopped preventing people from working. they are the worst type of hypocrites -- the ones who rob you and tell you to enjoy it.
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Old 06-08-2020, 05:27 AM
 
Location: Atlanta
994 posts, read 502,495 times
Reputation: 588
Social distancing was done. Jesus, some people can't read.
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