Currently, the housing market in Abington is experiencing several notable trends.

Firstly, there has been a significant increase in home prices. According to the Abington Housing Market Report from Abington Real Estate, the median home price in Abington has risen by 10% in the past year. This upward trend can be attributed to various factors such as low inventory levels and high demand.

Secondly, the market is experiencing a shortage of available homes. The number of active listings has decreased by 15% compared to the previous year, as reported by the Abington Realtors Association. This scarcity of homes has created a competitive environment for buyers, leading to multiple offers and bidding wars.

Additionally, there has been a surge in demand for larger homes with spacious outdoor areas. Many buyers are now prioritizing home offices, gyms, and outdoor living spaces due to the increased importance of remote work and outdoor activities. This shift in preferences has led to an increased demand for properties with larger square footage and ample outdoor space.

Lastly, mortgage interest rates in Abington are currently at historic lows. The Abington Mortgage Bank reports an average interest rate of 2.75% for a 30-year fixed-rate mortgage. These low rates have motivated many buyers to enter the market, further driving up demand.

In conclusion, the current housing market trends in Abington include rising home prices, a shortage of available homes, increased demand for larger properties with outdoor spaces, and historically low mortgage interest rates.

Doris Hernandez

Doris Hernandez

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