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These Oversupplied Metros Could See Major Price Drops by Late 2024

Pro Builder

Formerly red-hot housing markets such as Seattle, Phoenix, San Francisco, and Austin, Texas, have seen substantial increases in inventory, and as a result, each metro is expected to see a double-digit price correction by late 2024. decline in home prices for 2023. decline in home prices for 2023.

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Austin, Denver, New York Are Top Startup Ecosystems

Business Facilities

Austin , Denver and New York are the cities with the top Startup Ecosystems in Business Facilities’ 15th Annual Rankings Report. Austin is a dynamic, cosmopolitan city that established its high-tech bona fides years ago. Read: Austin, Denver, New York Are Top Startup Ecosystems at BusinessFacilities.com.

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AGC: Construction Employment Rises, Job Levels Reach Near Record Levels

Construction Superintendent Magazine

Phoenix-Mesa-Scottsdale, Arizona added the most construction jobs (10,900 jobs or 8%) between January 2023 and January 2024, followed by Riverside-San Bernardino, California (7,900 jobs, 7%); Baton Rouge, Louisiana (6,700 jobs, 15%); Austin-Round Rock, Texas (5,900.

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Experts Say This City Will Be the Nation's Hottest Market

Pro Builder

Phoenix, Nashville, Tampa, Denver, and Austin all experienced a hot market last year, but these metros' upward trajectory is not predicted to end this year. Austin, TX will lead as the hottest housing market, Zillow says. This makes 2021 the second year in a row where experts expect Austin at the top. cbroderick.

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These Pandemic Boomtowns Are Cooling Down in 2023

Pro Builder

In Austin, pending home sales fell 40% in February, while median price per square foot fell 13% year-over-year, but prices are still substantially higher than they were two years ago, Forbes reports. In Phoenix, 70% of for-sale homes had a price drop in February, compared with 21% a year earlier—the second-biggest uptick in the U.S.

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Home Values Increase at Unprecedented Quarterly Rate

Pro Builder

Zillow reports Austin, TX home values jumped 5.3% For year-over-year growths, Phoenix experienced a 15.3% Other metros with high annual growth are Salt Lake City, Seattle, and Austin. For some metros, home values increased even higher. from the third quarter of 2020 to the fourth quarter. The typical U.S. annual increase.

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The Fed Just Paused Interest Rate Hikes—What Does That Mean for Home Prices?

Pro Builder

from this time last year, and cities such as Austin, Texas, and Phoenix are seeing double-digit declines, but without an increase in housing inventory, experts say home prices will remain elevated throughout the remainder of 2023. The nationwide median home sale price is just shy of $389,000, down 1.7%