The U.S. housing market, buoyed by record low interest rates, remote work and Americans' desire for more space, outperformed much of the economy throughout 2020.
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Real estate
Lancaster’s February housing market is a challenge, but ‘don’t fear the bubble,’ Realtor says
“I don’t believe this is because buyers aren’t buying,” Blefko wrote. “It’s just that there aren’t enough homes on the shelf to pick from.”
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Nearly 40% of millennials are comfortable buying a house online
A new Zillow survey1 finds the largest generation of first-time home buyers overwhelmingly want digital tools available during the home shopping process, and many are comfortable purchasing their biggest financial asset online.
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Homes sell closer than ever to list price as average sale-to-list ratio approaches 100%
The median home-sale price increased 16% year over year to $323,600, an all-time high, according to a report from Redfin . This is the largest increase on record in this data set, which goes back through 2016.
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Senior living community retools projects following the pandemic
The pandemic caused New Oxford-based Cross Keys Village -- The Brethren Home to pause two major projects at its senior living facilities to focus on slowing the spread of the virus in its communities.
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Lancaster chooses four affordable housing projects for national grant program
Four Lancaster affordable housing projects are slated to receive $2.4 million in funding through the U.S. Department of Housing and Urban Development.
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Designing office spaces with COVID-19 in mind
Commercial real estate projects have returned for architectural and design firms but they look different as businesses design office spaces with COVID-19 and other respiratory viruses in mind.
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Mechanicsburg contractor announces 22-lot development
A Mechanicsburg-based design-build contractor is accepting reservations for a 22-lot neighborhood in Upper Allen Township.
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Low supply and high demand drives rapid homes sales in York and Adams
Through the first two months of 2021, home sales experienced double-digit increases in York and Adams counties, as activity continued at a high level.
Read More »$15M plan to bring affordable housing to Lancaster’s former Rebman’s site moves forward
A $15 million mixed-use project to bring affordable housing and neighborhood services and businesses to the long-vacant Rebman’s property in southern Lancaster city is one step closer to fruition.
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Home prices post 17% annual gain, largest in at least 5 years
The median home sale price increased 17% year over year to $330,250—an all-time high—according to a new report from Redfin
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Commercial real estate executives express optimism about current and future market conditions
Commercial real estate industry leaders continue to acknowledge the effects of the COVID-19 pandemic on various asset classes, while expressing increased optimism for both current and future market conditions for the remainder of 2021.
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Mid-state home sales are dropping because there aren’t enough to meet demand
Harrisburg-area homes sales have started to hit the brakes, but it’s not for lack of buyers.
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Americans rethink ‘How close is too close when it comes to living near family?’
Most U.S. adults say they are reconsidering the benefits of living closer to family in light of COVID-19, according to a recent survey from Ally Home.
Read More »Southern PA cities top ranking of best cities for remote workers
Lebanon was voted the best city for remote workers in the country, followed closely by York-Hanover and Lancaster, in a ranking by real estate website Ownerly.
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