Real Estate

Philadelphia's housing market remains highly competitive

Animated gif of a house going down a supermarket checkout conveyor belt
Illustration: Sarah Grillo/Axios

Philadelphia's housing market cooled slightly in this fiscal year's second quarter, but it remains ultra-competitive thanks to low supply fueling aggressive price increases.

Why it matters: Housing price growth continues to exceed household income growth, which Drexel University economist Kevin Gillen writes could indicate that "more homes are becoming less affordable (or even unaffordable) to an increasing number of Philadelphians."

Mike D'Onofrio
Oct 6, 2021 - Sports

Ben Simmons' Philadelphia condo for sale for $3.1M

Ben Simmons bows his head on the court.
Photo: Jesse D. Garrabrant/NBAE via Getty Images

Ben Simmons quietly listed his three-bedroom home at the Ritz-Carlton Residences of Philadelphia for a whopping $3.1 million over the weekend, the Inquirer reported.

  • The disgruntled 76ers point guard has been MIA this preseason as he seeks his exit from the Philly squad.

Get a free daily digest of the most important news in your backyard with Axios Philadelphia.