"While we've definitely seen prices moderate from the rapid and unsustainable climb in 2020-2022, how much they've changed is going to be different everywhere. If you look at data from ResiClub and Zillow for the 50 largest metros, this becomes very clear. The real story is split right down the middle. Half of the metros are still seeing prices inch higher. The other half? Prices are coming down slightly ( see graph below)."
"One factor that's driving the divide? Inventory. The Joint Center for Housing Studies (JCHS) of Harvard University explains: " . . . price trends are beginning to diverge in markets across the country. Prices are declining in a growing number of markets where inventories have soared while they continue to climb in markets where for-sale inventories remain tight.""
"Andjust in case you're really focusing on the declines, remember those are primarily places where prices rose too much, too fast just a few years ago. Prices went up roughly 50% nationally over the past 5 years, and even more than that in some of the markets that are experiencing a bigger correction today. So, a modest drop in some local pockets still puts most of those homeowners ahead when it"
Prices moderated after the rapid 2020–2022 climb, but changes vary by metro. Data from ResiClub and Zillow for the 50 largest metros show half of metros with prices inching higher and half with slight declines. Inventory levels explain much of the divergence: prices fall where inventories have soared and rise where inventories remain tight. Averaging divergent metros produces an apparently flat national number that masks local realities. Boston condo for sale prices are climbing. Recent declines occur mainly in markets that saw outsized gains; many homeowners in those areas remain ahead after modest drops.
Read at Boston Condos For Sale Ford Realty
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