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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.

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These Pandemic Boomtowns Are Cooling Down in 2023

Pro Builder

and that sudden cooldown isn’t just the result of recent banking turmoil or a shaky stock market. 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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These Metros Will Be the First to See Prices Fall in a Market Correction

Pro Builder

In 2023, Goldman Sachs expects double-digit home price declines in major markets like Austin (-15.6), San Francisco (-13.7%), San Diego (-13.4%), Phoenix (-12.9%), Denver (-11.4%), Seattle (-11.2%), Tampa (-11.2%), and Las Vegas (-11.1%). Indeed, through November, Austin is down 10.4% from its 2022 peak home price.

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Pulse: 07/30/2012

ENR Construction

Banking & Credit Crisis. --> Companies. Michigan The Edgewater Group is planning to build Harbor Village, a mixed-use development within the Harbor Shares community, located along the north bank of the St. in the South Lake Union district of Seattle. Seattle, 98105. Phoenix, 85007. Gulf Oil Spill. -->. 07/30/2012.

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Exciting products and fresh directions

Cassell Construction Estimating

Starting that project on time is often problematic however, as Owners and Developers report that bank funding remains inordinately tight. This month’s stops included Hawaii, (Fukunaga Electrical and Hawaii Community College ), Seattle, (Absher Construction and WinEst),and California, (PBC Companies).

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