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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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Migrating Americans Are Driving Up Home Prices in Popular Metros

Pro Builder

Migrating Americans Are Driving Up Home Prices in Popular Metros. Remote workers and movers motivated by the pandemic are flocking to Sun Belt cities like Phoenix, where prices are peaking and inventory is declining. According to Redfin, 31% of online users expressed interest in moving to another metro in 2021, up from 25.6%

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Homebuying Activity Returns as Inventory Increases

Pro Builder

Homebuying Activity Returns as Inventory Increases. An uptick in homebuying activity in June after months of decline shows slowed buying activity resulted from low inventory, says the National Association of Realtors (NAR). June housing inventory was up 3.3% Phoenix issued the third highest number of permits at just over 36,000.

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Homebuyers Brace for Big Changes Ahead as Inventory Climbs and Sellers Slash Prices

Pro Builder

Homebuyers Brace for Big Changes Ahead as Inventory Climbs and Sellers Slash Prices. metros climbed 41% in July, especially in popular cities like Phoenix, Austin, and Raleigh, where inventory rose 158.7%, 154.5%, and 137.5%, respectively. Tue, 08/09/2022 - 10:15. Here's what that might mean for prospective buyers.

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Single Family Build-For-Rent Homes Reach All-Time High

Pro Builder

Phoenix, Ariz., These Southern metros are where BFR homes are being built the most, with Detroit, Mich., Based on yearly averages and trends, RentCafe has compiled a list of metros that have made the most growth in the past few years—metros that are "hot" for BFR. Where Are Build-For-Rent Homes Being Built Most?

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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. Overpriced metros like Boise and Phoenix are seeing prices drop, sales slow, and inventory levels surge amid a major market cooldown. Mon, 07/18/2022 - 10:17. The nation's hottest housing markets aren't so hot anymore.

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Top Three Metros With the Fastest Rising Home Prices

Pro Builder

Top Three Metros With the Fastest Rising Home Prices. For the S&P CoreLogic Case-Shiller 20-city price index, which focuses on the largest 20 metros in the country, home prices rose by 9.1% There are three metros that outpaced the national and 20-city averages: Phoenix, Seattle, and San Diego. cbroderick. Read More. .

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