Mortgage rates stayed high despite rate cuts, attracting cash-heavy investors to the housing market.
AdvertisementDespite the central bank cutting interest rates, mortgage rates haven't followed suit.
RedfinBut whether they're buying or selling, investors have been doing quite well regarding capital gains, says Elijah de la Campa, a senior economist at Redfin.
Below is a list of the 39 major metro areas in descending order of median capital gains over the past year into June.
What stands out most to de la Campa is that many areas with the highest capital gains are affordable, particularly Philadelphia and Warren, MI.
Persons:
—, Lily Katz, Katz, Elijah de la, Campa
Organizations:
Providence, Service, Investors
Locations:
Cities, San Jose, Denver, Oakland, San Jose , CA, Portland, Oakland , CA, Providence , RI, Philadelphia, Warren , MI