The housing market is cooling fast. Are you ready?
- Resale prices are down compared to one year ago in 53 of 150 markets we track, with declines spreading beyond Texas and Florida.
- New home prices, including builder concessions and incentives, have fallen -1.5% versus last year as builders have been caught with too many completed, unsold homes for the first time in many years.
- Resale prices have risen in 65% of the country over the last year, so pay attention to local dynamics. For our clients, we produce 70-page reports and have user-friendly dashboards with just about every stat we can think of on 100+ metro areas every month.
Price drops spreading
With new home construction exceeding job creation in most areas, the supply of newly built homes is outpacing new demand. Homebuilders are lowering prices and payments to find demand.Price weakness has expanded across the Southeast, Southwest, and West Coast. Even some markets in the Midwest and Northeast, where tight supply previously supported strong pricing power, are seeing price appreciation slow rapidly. This geographic spread signals a widespread shift in pricing power...
RSK: Midwest still has rising prices but the rate of growth is falling. Same is happening in multifamily.....even with less construction in that sector, this means higher rents which will eventually make construction profitable.
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- - Volume: 25 - WEEK: 33 Date: 8/13/2025 11:28:43 AM -