The U.S. housing market is demonstrating significant regional variations. Major metro areas such as Dallas, Denver, San Francisco, and Tampa experienced annual declines in home sales prices in May. While home values nationally rose by 2.3% compared to a year ago, this growth is the slowest recorded since July 2023. The Midwest and Northeast display strong housing markets, contrasting with the declining conditions in the South and West. Additionally, inventory levels increased nationally by 28.9% year-over-year, impacting local housing dynamics in different areas across the country.
Home values across the U.S. rose by 2.3% annually in May, marking the slowest growth rate since July 2023. This indicates an overall economic slowdown.
Dallas, Denver, San Francisco, and Tampa all saw annual declines in home sales prices in May. This trend demonstrates weakness in the South and West regions.
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