Here’s what is happening in local housing markets across the country

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Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets.

Aspen, Colorado

This is probably not the time to buy your Aspen dream home. According to a report produced by Douglas Elliman and real estate appraisal company Miller Samuel, single-family home listings sloped down 58% year-over-year in July 2021 to a paltry 20 total in the famous ski-resort town. Single-family homebuyers who entered contract, meanwhile, slalomed to 12 total in July compared to 46 a year earlier, per the report. Of those 12 homes purchased, 10 cost at least $5 million. The slightly more affordable Aspen option are condos. Thirty-three condo contracts were entered in July and 20 were in the $2-$4 million range. “New listings within both property types fell sharply from the same period last year,” said study author Jonathan Miller, “keeping upward pressure on prices.”