Since the Start of the Pandemic, Home Prices Have More Than Doubled in These Ohio Cities

The COVID-19 pandemic drastically reshaped the U.S. housing market, resulting in median home prices surging by nearly 38% nationwide, with Ohio seeing a staggering 52% increase.

The impact of the pandemic on housing is not uniform; while some areas of Ohio experienced significant price hikes, others saw comparatively modest increases, highlighting the importance of location.

A combination of supply chain issues and heightened demand due to remote work has exacerbated the existing housing shortage, with estimates suggesting a need for 4 to 7 million new homes.

With mortgage rates at historic highs, many homeowners are hesitant to sell, further limiting the housing inventory already strained by the pandemic's economic repercussions.

Read at 24/7 Wall St.