Most Expensive Housing Markets in the Midwest
COVID-19 put further pressure on an already tightening U.S. housing market as millions of Americans relocated because of the pandemic. Since the virus outbreak and ensuing lockdowns, demand for housing has been outpacing the number of homes coming into the market. Adding to the pressure has been the rising cost of building materials as global supply chains tightened during the global health crisis, causing U.S. housing starts to fumble.
Despite some recent signals showing home prices are beginning to rise at a slower rate, buying a home in America is still inordinately difficult and costly these days. In fact, this slower growth could be caused in part by prospective buyers postponing purchases until the market starts to cool. These are the cities where home values are rising the fastest.
Take almost any local housing market — especially…