Prices of urban single-family homes are rising nearly 20 percent year-over-year — faster than any other type of home — according to a new report from Redfin, a technology-powered real estate brokerage. In addition, urban condo sales activity is up nearly 30 percent year-over-year, more than any other home type.
Key takeaways from Redfin’s analysis, which looks at the housing market divided into five categories (urban single-family homes, suburban single-family homes, rural single-family homes, urban condos and suburban condos) during the 12 weeks ending April 4 include:
Prices of urban single-family homes increased nearly 20 percent year-over-year, outpacing price growth rates for every other home category, a signal that buyers are searching for spacious homes near city amenities as vaccines roll out.
Online listings of homes in large metros saw a 62 percent year-over
