Empty Homes are PILING UP on the US Housing Market. Particularly in certain Cities and ZIP Codes where the 2022 Housing Crash is well underway.
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Inventory Data Sourced from Realtor.com: [ Ссылка ]
Homes for Sale is skyrocketing and Prices are Coming Down many Housing Markets across America. Particularly the ones with the biggest Pandemic Migration boom. Cities like Dallas, Austin, and Phoenix are seeing an explosion in Homes for Sale and Price Cuts. The Housing Crash could have already started here.
Florida is another Real Estate Market exhibiting similar trends. Metros like Tampa, Sarasota, and Naples, which had the biggest Migration Surge in 2020-21, now have the biggest increase in Inventory over the last year.
The likely reason is that fewer people are moving to these areas in 2022 now that the pandemic has normalized. Moreover, home prices in boomtown migration cities grew so much that they are no longer affordable. Mix in a big influx of construction and home building and you have the recipe for the epic inventory surge we're seeing right now.
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#HousingCrash #Recession
