U.S.
Housing supply in North Port and Cape Coral increased by 68% and 64% year-over-year in April, respectively, the second- and third-highest among the metros analyzed, while price per square foot has decreased in both cities—making them two of the four metros where it declined.only to Texas—to meet the pandemic-driven influx of newcomers, while a subsequent rise in insurance costs following a string of natural disasters have dampened demand, leading to an oversupply of inventory.
Housing demand in western New York and the Midwest is heating up the fastest, with per-square-foot prices rising by double digits year-over-year in April: Rochester, New York topped the list, followed by Lake County, Illinois and Buffalo, New York. Homes in these areas are attractive due to their relative affordability—the typical home sells for around $250,000 in Rochester and Buffalo, lower than the $440,000 U.S. average and a fraction of the $750,000 average in the New York City metro, helping draw remote workers from the far pricier city.We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines.