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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. Read more Housing Markets Market Data + Trends Housing Markets

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Boise, Phoenix Prep for Big Changes Ahead After Years of Record Home Sales

Pro Builder

Boise, Phoenix Prep for Big Changes Ahead After Years of Record Home Sales. The nation's hottest housing markets aren't so hot anymore. Overpriced metros like Boise and Phoenix are seeing prices drop, sales slow, and inventory levels surge amid a major market cooldown. Housing Markets. Mon, 07/18/2022 - 10:17.

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Is Your Local Housing Market Headed Toward a Home Price Correction?

Pro Builder

Is Your Local Housing Market Headed Toward a Home Price Correction? These overpriced regional housing markets are the most likely to see home prices fall in the months ahead. The first group includes high-cost tech hubs like Seattle and San Jose. The second groups are frothy housing markets like Austin, Boise, and Phoenix.

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A Housing Correction Is Losing Steam—Here’s Where Experts Say Home Prices Could Go From Here

Pro Builder

But as the housing market moves into a typically busy spring season, that correction is losing steam. Third, housing affordability has improved a bit over the past few months as mortgage rates came back under 7% and many markets saw home prices come down a bit. Read more Housing Markets Affordability New-Home Sales Affordability

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A Housing Correction Is Losing Steam—Here’s Where Experts Say Home Prices Could Go From Here

Pro Builder

and 16.3%, respectively, from their peak, but as the housing market moves into a typically busy spring season, that correction is losing steam. and 16.3%, respectively, from their peak, but as the housing market moves into a typically busy spring season, that correction is losing steam. Second, inventory in March was 49.5%

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Home Prices Shatter Another Record

Pro Builder

Nationally home prices are 41% higher than their last peak during the housing boom in 2006. Phoenix, San Diego, and Seattle reported the strongest price increases of the 20 cities. Prices in Phoenix increased 29.3% In San Diego they rose 27.1%, and in Seattle they were up 25.0%. year-over-year.

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A Record Share of Homebuyers Relocated to These Metros in Q4 2022

Pro Builder

While an unfavorable buying landscape is causing some house hunters to migrate to more affordable parts of the country, it’s also forcing some to postpone their purchasing plans altogether. Read more Housing Markets New-Home Sales Housing Markets Markets such as Sacramento, Calif., Markets such as Sacramento, Calif.,

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