Columbia homebuyers paying up to $57,000 more than expected in new study
COLUMBIA, S.C. (WIS) - A new study of the top 100 U.S. housing markets says Columbia homebuyers are paying tens of thousands more than expected on their homes.
Researchers at the Florida Atlantic University College of Business examined housing prices using open source data from Zillow and other real estate providers to gauge overpriced and underpriced cities in the U.S.
Columbia was ranked 46 in the list, with a premium on housing prices at 32.64%. In the study, expected housing prices for the area as of May of 2022 should average around $175,032. The current actual average housing prices are $232,163.
The data indicates homebuyers are overpaying by up to $57,000.
More information about the study and how the researchers came to their conclusions can be found at the link here.
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