Home Real Estate Moving to the Midstate: The people driving the region’s hottest-ever housing market

Moving to the Midstate: The people driving the region’s hottest-ever housing market

0

HARRISBURG, Pa. (WHTM) — When was the last time Midstate Pennsylvania saw houses sell as quickly, for as much money, as they’re selling now? Years ago? Decades ago?

“There’s never been a market like this,” said Wendell Hoover of Iron Valley Real Estate, whose business focuses on Harrisburg. “People are willing to pay more than they were willing to pay, and maybe overpay now for houses so that they can get one.”

Some of the trends are national.

“For a lot of people who have been renting, they’re like: ‘Well I can buy with the low-interest rates and pay less than I’m paying for my rent. Why wouldn’t I do that?” Hoover said.

But within that national context, why are Midstate homes selling more than twice as quickly as the U.S. average (in just six days compared to 14 in Harrisburg, according to Zillow?)

Click here for full article…