Real estate analysts are reporting an increasing trend in people buying properties with low asking prices.
That trend could be a sign of a potential market correction in the housing market, as it’s expected to increase pressure on mortgage rates and other home financing options.
The number of properties in the market with asking prices below the median selling price is growing faster than the average, according to data from Zillow.
The median asking price is $1.4 million.
The average asking price for a new home is $2.8 million.
Zillow has tracked sales data since 2010, when the company began tracking real estate prices.
In the past year, demand for properties has risen as investors flock to the city for the holidays, and many have been willing to spend more on homes in anticipation of a stronger economy.
The trend is evident in real estate news and analysis across the Web, as well as in online postings by buyers and sellers.
Zilow’s latest data shows that more than half of the homes in the United States are priced at $1 million or less, according the Zillower index.
Zillows analysts have predicted that the market for homes with asking price under $1,000 is expected to grow to $1 trillion by 2027.
The median price for homes in Zilloview’s database is $900,000.
The number of homes in this category is projected to increase by 10 percent by 2035, according ZillOW.
The real estate data is based on real estate appraisals, sales data, and interviews with real estate professionals and real estate agents.
Real estate analysts say that buyers are buying properties at inflated asking prices because they’re concerned about inflation and are looking to invest in their first home.
The current rate of price inflation is 2.8 percent per year.