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Where homes are trading below list price (and what that means for CRE)

As mortgage rates rise and rising inflation constrains consumers’ purchasing power, home ownership has become increasingly out of reach for many Americans. But in many markets, homes are still trading for more than their list price.

In a few key areas, that’s not the case — namely, West Virginia, Illinois, and Oklahoma. A recent study by RubyHome examined historical Zillow data for the past 12 months for homes sold for an amount other than list price. Analysts then calculated the sale-to-list ratios of those properties for each state to see where the homes sold the lowest compared to their original listing.

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