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Migrating Americans Are Driving Up Home Prices in Popular Metros

Pro Builder

Remote workers and movers motivated by the pandemic are flocking to Sun Belt cities like Phoenix, where prices are peaking and inventory is declining. Sun Belt cities like Phoenix, Dallas, and Orlando attracted the majority of relocating Americans in 2021, and as a result, prices for homes and consumer goods are reaching new highs.

Metro 105
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In Pursuit of Affordability, Homebuyers Are Heading to Cities With the Biggest Climate Risks

Pro Builder

house hunters are looking to relocate to a different metro area as affordability constraints push homeownership further out of reach. Arizona's recent limit on new construction isn't likely to deplete inventory enough – or push prices up enough – to change that calculus much in the short term."

Risk 52
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Housing Market Outlook: Should Buyers Wait it Out?

Pro Builder

Housing Market Outlook: Should Buyers Wait it Out? Should homebuyers consider waiting out the hectic housing market? Almost two-thirds of June listings resulted in bidding wars, and buyers continue to sweeten their offers by offering vacations and even crypto, but inventory remains low. Housing Markets. Housing Markets.

Housing 52
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The Buying Boom Is Slowing, and Experts Say a Housing Correction Could Follow

Pro Builder

The Buying Boom Is Slowing, and Experts Say a Housing Correction Could Follow. As mortgage rates keep climbing, we may be moving from a housing boom to a housing correction, says top economist Mark Zandi . housing markets. Tue, 05/31/2022 - 10:10. That's the finding from Moody's proprietary analysis of U.S. Affordability.

Housing 52
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Home Prices Rise at the Fastest Rate on Record

Pro Builder

After nearly two years of relentless gains, home-price growth gradually decelerated in the fall of 2021, but constrained inventory and uninhibited demand led to sharp price increases at the start of 2022. It’s that kind of exuberance that led to past housing downturns.”. We should not see rapid upticks in prices as mortgage rates rise.

Tampa 105
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Affordable Starter Homes Are Becoming Harder to Find

Pro Builder

The majority of housing markets lack starter homes under $150,000, and some pricey metros have none available at all. of homes in the United States were worth $1 million or more, but thanks to record low inventory and fast-rising prices throughout the COVID-19 pandemic, that share is now up to 8.2%, says The New York Times.

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November Homes for Sale Reach Record Low

Pro Builder

Limited inventory is causing yet another increase in home prices at the end of 2021. Market experts predict that inflation could also play a serious role in housing affordability throughout 2022 as home buyers face increases for consumer goods. November Homes for Sale Reach Record Low. Tue, 12/21/2021 - 09:56. more than list price. “I