Pennsylvania's real estate market faces major changes with new legislation targeting house flipping by imposing prepayment penalties on investment properties. Median home prices rose 5.2% to $300,000 amid tight inventory, nearly 10% lower than last year. Property Tax/Rent Rebate program expanded, increasing eligibility and maximum rebates. Philadelphia suburbs see high demand; Pittsburgh remains stable with affordable prices. Buyers should get pre-approved and sellers must price homes accurately. New federal transparency rules apply to LLC or trust property purchases.
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