Research

The Charleston, SC-based firm now owns or manages more than one million units.

Also, first-time buyers made up an astonishing half of all home buyers last year

Home prices also posted sharp declines in Phoenix, Austin, and Jacksonville.

A double whammy of declining home values and rising taxes propelled the increase in effective tax rates.

Baby boomers are the top group of homesellers.

In million-dollar cities median home values shot up 4.6% compared to a year ago

Home prices outpacing wage growth, rising interest rates, and a supply shortage create challenges.

Yardi Matrix reports a 450bps increase from last year's boom times.