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Philadelphia Suburbs Among Most Competitive Housing Markets in the U.S.
Spring is traditionally the season when more homes hit the market and buyers catch a break, but not in the Philadelphia suburbs.
A new Redfin report, highlighted by Ryan Mulligan at the Philadelphia Business Journal, ranked the Philadelphia suburbs seventh among the 50 most U.S. metro areas for housing competitiveness.
In May, 43.6 percent of homes in Chester, Montgomery, and Bucks counties sold above their original asking price. This places the region behind only Newark, San Francisco, San Jose, Nassau County, Oakland, and Providence, and ahead of cities like Milwaukee and Boston.
Mid-Year Housing Market Update
What housing market trends have been present in the first half of 2026, and what can we expect for the rest of the year? Dr. Lisa Sturtevant, chief economist with Bright MLS, shared a mid-year housing update on yesterday's PAR webinar.
Home Prices and Inventory:
Sturtevant, who has over 20 years of experience in economic, demographic and housing market research, noted that across the country, home prices are continuing to rise, but are doing so more slowly in many markets. Inventory is still below 2019 levels and remains very tight in many markets in Pennsylvania, especially in central Pennsylvania. To the east, the Philly metro area is beginning to see more inventory.
Read more from the PA Association of Realtors.
Get the Latest Local Housing Market Data from Long and Foster's County Market Report
Bucks County, PA
Chester County, PA
Delaware County, PA
Montgomery County, PA
Philadelphia County, PA
Atlantic County, NJ
Cape May County, NJ
Ocean County, NJ
Americans Are Looking for Homes Across State Lines in 2026
Nearly one in five American homebuyers looked beyond their local market in early 2026, as rising housing costs push more shoppers to search for affordability across state lines.
That's according to a new report from Redfin, which found that approximately 19% of Americans looking to buy a new home shopped in a different part of the country in Q1 2026.
That's up from the same time last year and the highest share since 2021.
Read more from The Mortgage Note.
Most Homeowners See Their Home as a Reflection of Who They Are; Most Renters See It as Just a Place To Live
Nearly three-quarters (74%) of U.S. homeowners would rather be at home than anywhere else, according to a recent Redfin-commissioned survey.
In recognition of National Homeownership Month in June, Redfin is reporting on how Americans feel about their homes and their neighborhoods. Redfin commissioned Ipsos to conduct the survey of 4,000 U.S. residents, including 2,280 homeowners and 1,431 renters. Results in this report are based on a single question which asked respondents to answer how likely they were to agree or disagree with a set of statements about how they relate to their current home and neighborhood.
Read more from Redfin.
House Price Appreciation by State and Metro Area in the First Quarter of 2026
U.S. house prices continued to rise in the first quarter of 2026, but appreciation slowed markedly from the rapid pace seen during the pandemic-era housing boom. Higher mortgage rates, persistent affordability challenges, and softer demand weighed on price growth nationally. At the same time, local market conditions varied considerably. Some states and metropolitan areas continued to post solid gains, while others experienced flat or declining house prices.
Read more from the National Association of Home Builders.
Purchase Activity Rallied Last Week
Mortgage demand edged higher last week as rates eased, helping support buyer interest in a market where inventory is improving and listing prices are softening.
Read more from The Mortgage Note.