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Realtor.com has identified the top suburbs offering affordable space near the nation's largest metros as Americans seek more room at home during the pandemic. Homebuyers can save an average of 29% per square foot in these areas. For example, Fullerton, CA offers homes at $304,000 less than Los Angeles, while Clark, NJ offers savings of nearly $250,000. The report analyzes prices of single-family homes within 25 miles of 10 major metros, highlighting substantial savings and increased square footage for buyers.

In October 2020, rents in tech hubs like San Francisco saw significant declines, with studio apartments dropping by 33.3% year-over-year. The median studio rent fell to $1,316, while one-bedroom rents increased by 1.1% to $1,495. Nationally, rent growth is still below pre-COVID levels, but decreases are slowing. The shift towards remote work has led renters to seek more space, especially in urban areas. This trend is reflected in rising two-bedroom rents, which may soon return to pre-COVID growth rates.

Buyers and sellers paused in the housing market last week, impacted by the presidential election and rising coronavirus cases, as reported by realtor.com® for the week ending Nov. 7. New listings fell 12%, contributing to a 39% year-over-year drop in total homes for sale. Despite this, home prices continued their double-digit growth, increasing by 12.9%. The average time on the market decreased to 13 days. realtor.com's Housing Market Recovery Index dipped to 108.0, highlighting a slight slowdown after October's peak, yet indicating strong performance compared to pre-pandemic levels.

The U.S. housing market showed resilience in October, with homes selling faster than in September for the first time since 2011, taking an average of 53 days. Median home prices held steady at $350,000, marking a year-over-year increase of 12.2%. Despite a 38.3% drop in homes for sale, new listings improved, indicating potential relief for buyers. Key metros such as Los Angeles and Philadelphia saw significant price increases. However, the overall inventory remains critically low, emphasizing the ongoing competition among buyers.

Realtor.com®'s Weekly Housing Report reveals signs of a seasonal slowdown in the U.S. housing market as of Oct. 24, 2020. Newly listed homes show a 2% year-over-year decline, although this marks an improvement from previous weeks. Home prices grew 12.2%, maintaining a typical listing price of $350,000. Notably, price reductions increased to 5.5%, signaling potential easing in price gains. The Housing Market Recovery Index hit a high of 112.4, suggesting a shift toward better buyer-seller balance despite ongoing demand.

The latest realtor.com® Weekly Housing Report indicates a slight slowdown in the housing market for the week ending Oct. 17, 2020. Median listing prices rose by 11.1% year-over-year, showing a deceleration from earlier peaks. The current median home price stands at $350,000, while homes are selling 13 days faster than last year, averaging 53 days on the market.

Despite a reduction in new listings by 6%, inventory is 38% lower year-over-year. The Housing Market Recovery Index remains strong at 111.0, reflecting ongoing buyer demand amid a seller's market.

According to realtor.com®'s Weekly Housing Report for the week ending Oct. 10, new data reveals a resurgence of sellers in the housing market, with total inventory declines stabilizing for four consecutive weeks. While the number of homes for sale decreased by 38% year-over-year, buyer competition remains intense, with homes selling two weeks faster and listing prices hitting record highs. The median listing price is over $350,000, reflecting a 12.2% increase from last year. The Housing Market Recovery Index stands at 111.8, indicating a stronger market compared to pre-COVID levels.