realestate

High home prices strain buyers in Philadelphia area

6abc tracker data: Philadelphia home prices 4.4% above national average.

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hiladelphia’s real‑estate scene remains a battleground. Prices outpace the national average by roughly 4.4%, according to 6abc’s tracker, and competition is fierce both downtown and in the surrounding suburbs. Paul Carson, broker at Philly Mortgage Brokers, notes the area’s long‑standing stability fuels the demand. Deanna Albanese of Long & Foster Real Estate says the market’s steadiness keeps values high, even as appreciation slows. She reports that buyers still engage in bidding wars, especially for move‑in‑ready homes with minimal repairs. Albanese points out that Philadelphia’s resilience protects buyers from the market swings that can leave them underwater elsewhere. Carson advises buyers to assess their own finances—income, affordability, and long‑term plans—before stepping in. For a deeper look at regional prices, visit 6abc.com/pricetracker.

Homebuyers face high prices in Philadelphia housing market.