Uh oh...Watch CA next...
As a real estatee inspector I’m not surprised. More and more of the houses I inspect have an additional $40 - 50K of necessary repairs (excluding cosmetics) on top of already excessive sale prices. It’s the worst I’ve seen in 25 years.
North Texas adds 100K+ new residents every year, our total population now exceeds 8 Million. I don’t expect a decrease in prices anytime soon.
“ Texas and Florida have the highest rates of homes sitting on the market.”
That may be because people are buying RV’s and moving to the RV villages popping up everywhere in Texas.
Must be cheaper to buy an RV and pay lot lease than to buy a house or rent an apartment.
“Uh oh...Watch CA next...”
SoCal houses are still selling. But 30% have been full cash offers. Meaning that the buyers are institutional or foreign nationals or both at the same time. Young American couples with two incomes are priced out.