Redfin

A record-setting 57% of homes that went under contract in the four week period ending Feb. 13 sold within two weeks of being listed, according to a report from Redfin, a technology-powered real estate brokerage.

Out-of-towners typically come with bigger budgets, pricing out locals who become stuck renting.

Locals in Phoenix, Dallas, and Orlando are being priced out of these areas as home prices jump nearly 30%.

Redfin’s forecast expects price growth to slow to an annual rate of 7% by the end of 2022.

Redfin surveys find 77% of homebuyers believe there's a housing price bubble, but Redfin economist says it's only a 'ripple.'

Overall, rents are up more than 30% in many major metropolitan areas.