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Posted on 08/25/2025 3:36:20 PM PDT by MinorityRepublican
Home prices are falling in half of the nation's largest markets, a new report reveals —sparking fears that a housing crash is looming.
Sellers are slashing prices at record rates to to lure hesitant buyers put off by soaring mortgage rates and economic uncertainty.
In July alone, 27.4 percent of listings had a price cut — the highest rate ever recorded in Zillow's monthly data going back to 2018.
It helped push prices down year-over-year in 25 of the 50 largest US cities. Most were in the South and West.
Florida and Texas, in particular, are home to former boomtowns where prices have fallen at the quickest rate over the past year.
Tampa prices are down 6.2 percent, Austin 6 percent, Miami 4.6 percent, Orlando 4.3 percent and Dallas 3.9 percent, according to Zillow.
'Metros where price corrections are steepest are among those with the largest increase in inventory compared to before the pandemic,' said Kara Ng, senior economist at Zillow.
In the South in particular, the pandemic housing boom is now flipping into a bust as a result of too many homes being built, leading to supply outweighing demand.
(Excerpt) Read more at dailymail.co.uk ...
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LOLOLOLOLOLOLOL
You nailed it.
Yes, yes and yes.
Good point. The journalist’s choice of words is generally disgusting.
Exactly. 6% drop from a 50% increase in value is hardly a drop. But good, nonetheless in the short term.
This happens in Florida on a regular basis.
“
Atlanta hasn’t got enough inventory for all the new people moving here. The higher priced homes are sitting but under $500,000 is selling.
I just got my proposed property tax for the next 12 months. My home value went up 4K. Not a lot, but I wish it went down 27 percent. Why do people want to pay more in property tax? It doesn’t make sense.
Glad someone noticed.
Housing has to be the most emotionally driven, irrational market out there.
In manufacturing we have forecasters who base production off population statistics, that is how old people are, the income level in the different countries, etc.
But in housing the whole model unravels into a mess. It’s to the point these days that I can’t even find a new house even near the size I need. Nothing is built that’s less than 7,500 square feet, much too large for a single parent with only one kid left in the house.
Not the half of cities that are slums, they are happy to stop paying property taxes and rent.
Women and minorities hit the GREATEST
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