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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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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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New Quarterly Cost Report Charts Construction Trends

Construction Superintendent Magazine

With data from mid-Q4 2023, the latest RLB quarterly cost report shows the national average increase in construction costs was 1.32% over the previous quarter, with Boston, Chicago, Honolulu, Portland, Seattle and Washington, D.C. experiencing increases over the national average this quarter. Quarterly Cost Report highlights The U.S.

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New Crane Index, Quarterly Cost Report Charts Construction Trends in North America

Construction Superintendent Magazine

With data current to mid-Q3 2023, the latest RLB quarterly cost report shows that the national average increase in construction costs was 1.55% over the previous quarter, with Chicago, Honolulu, Las Vegas, New York, Portland and Seattle all experiencing increases over the national average this quarter.

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July Home Prices Advanced by 4.8% Says Case-Shiller

Pro Builder

The three metros which saw the highest price increases were Phoenix, Seattle, and Charlotte. Phoenix home prices jumped by 9.2%, Seattle by 7%, and Charlotte with a 6% increase. But for the largest 10 US metros, July experienced an annual increase of 3.3%.

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Home Prices Shatter Another Record

Pro Builder

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%. The 10-City composite index rose 18.5%, up from the previous month’s 16.6% while the 20-City composite increased 19.1%, up from 17.1%.

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

Pro Builder

and Las Vegas, which were among the most popular homebuying destinations throughout the pandemic, posted net inflows of around 5,500, down from roughly 6,500 a year earlier, while Phoenix had one of the most dramatic declines, with a net inflow of about 4,000 in Q4 2022, down from more than 8,000 in Q4 2021. Markets such as Sacramento, Calif.,

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