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Explain why the prices of homes for sale

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Interest rates on mortgages are at an all time low. In addition, the United States is seeing a massive increase in the price and purchases of home, resulting in homes often selling in 24 hours. Ironically, the prices of rental houses has gone up as well.

Explain why the prices of homes for sale and rental homes have increased and why homes are selling so quickly. Use the concepts of supply and demand in your response.

Reference no: EM133185882

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