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Chaotic US housing market: What’s causing it? [Video]

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New data further illuminated the red-hot nature of the housing market: Prices rose in March at the fastest pace in more than seven years.

WASHINGTON — The U.S. housing market has gotten so out of whack, with demand far outpacing supply, that prices have risen to record levels and roughly half of all U.S. houses are selling for above their list price.

Data from real estate brokerage Redfin shows that two years ago, before the pandemic, just a quarter of homes were selling above the seller's asking price. The current level is the highest in the decade that Redfin has tracked the data.

On Tuesday, new data further illuminated the red-hot nature of the housing market: Prices rose in March at the fastest pace in more than seven years. The S&P CoreLogic Case-Shiller 20-city home price index jumped 13.3% that month compared with a year earlier, the biggest gain since December 2013. That followed a 12% …

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Laval police investigate after homebuyers lose millions when real estate developer goes bankrupt [Video]

After speaking to some 20 families who lost millions in deposits when local real estate developer Bel-Habitat went bankrupt last week, Laval Mayor Marc Demers is promising support.