Reported 9 months ago
Following a surge in home prices during the pandemic, several cities in the South are now experiencing a cooling real estate market with declining prices and increased inventories exceeding pre-pandemic levels. The Mortgage Monitor Report from ICE indicates that 14% of major markets now have inventories at or above pre-pandemic levels, with Florida, Texas, and Colorado being the most affected states. Factors contributing to this include rising property insurance premiums, increased homebuilding in the South, and changing migration patterns favoring states like Tennessee, the Carolinas, and Georgia over Texas and Florida.
Source: YAHOO