The ongoing shift in housing markets is characterized by a cooling trend with increased active inventory and a slowdown in price growth across most regions.
U.S. home prices experienced a modest rise of just 0.3% month-over-month between June and July 2024, reflecting a significant cooling from historical growth rates.
Regional markets, especially in Texas and Florida, are seeing mild corrections with inventory levels surpassing pre-pandemic figures, indicating broader market adjustments.
Stable markets like Southern California and the Northeast remain steady, though they are not expected to see further month-over-month price gains in 2024.
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