Investors across the country are looking to cash in on skyrocketing house prices and rents, putting them in competition with new buyers trying to work their way to homeownership.

The demand for housing in the U.S. has reached a new all-time high since 2017, a rare occurrence for this time of year when the market typically slows. According to a Redfin report, a recovering economy and all-time low mortgage rates are critical factors in the current market. 

As dramatic rent prices impact states across the nation, renters are searching for more affordable places to call home. Nationally, the median rent price is up over 16% since January, with some cities seeing double that, according to a recent Apartment List report.

Demand for second homes was up 70% from pre-pandemic levels in October, according to a new report from Redfin. This outpaced August’s 48% gain but was below January’s record 91% growth.

Housing affordability has changed across all 50 top markets, proving to be more affordable than it was during the previous housing peak, according to First American Financial’s latest Real House Price Index.

A double-digit spike in the median price of a single-family home in Massachusetts last month caused sales numbers to decline for the second month in a row.

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.