Buyers Are Flocking to NYC’s Suburbs. Too Bad There Aren’t Many Homes to Sell.
Bidding wars abound in areas where demand far outstrips supply, even as some parts of the US grapple with a much slower market.
Prospective buyers attend an open house for a property listed at $2.48 million in Larchmont on Jan. 22 .
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
In the midst of the worst US housing slump in a decade, a wave of finance and tech layoffs and drumbeats of a potential recession, open houses in affluent New York suburbs are packed.
Offers come in fast — sometimes for hundreds of thousands over asking.