WCPO: Cincinnati ranked No. 1 in fastest-selling homes
UC expert discusses why homes could be selling so quickly in the Queen City
New industry data puts Cincinnati at the top of the list when it comes to the fastest-selling homes in the country.
On average in June, Cincinnati homes were on the market for just nine days. It's the lowest average in the whole country; nationwide, homes stayed on the market around 24 days.
Michael Jones, an economics expert at UC, says our region typically has a low cost of living compared to other metro areas, so many people working from home are leaving bigger cities and relocating to the Midwest. Low interest rates and limited home supply has created a classic problem of supply and demand.
Watch the full WCPO-TV, Channel 9 interview.
Christopher Nicak, director of research at the UC Economics Center, also spoke to Local 12 about the increase in U.S. rental prices, which have reached the highest point in two years.
Featured photo courtesy of Tierra Mallorca/Unsplash.
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