"Buyers are tired of waiting: Americans have delayed moves for nearly four years. Some of that latent demand is now activating. In Sun Belt markets like Austin or Naples, buyers suddenly have ample inventory, less competition, softer prices and incomes that have risen meaningfully since 2022. Add the best mortgage rates in two years, and you may get motivated buyers stepping off the sidelines."
"Sun Belt inventory = room for sales growth: Austin, Phoenix, Denver and much of Florida have enough supply to support a real increase in transactions. Prices may still be soft, but that's precisely why bargain hunting is underway. In the Goldilocks scenario, inventory isn't a constraint, it proves to be an opportunity. The Northeast and Midwest need more listings. Markets such as Chicago, New Jersey, Boston, and much of the midwest and northeast remain supply-constrained with 50-60% fewer homes on the market than in 2019."
Americans delayed moves for nearly four years, creating latent demand that is now activating. Sun Belt markets such as Austin, Phoenix, Denver and much of Florida have ample inventory, less competition, softer prices and stronger incomes, enabling real transaction increases. The Northeast and Midwest remain supply-constrained with 50-60% fewer homes on the market than in 2019, requiring more listings for sustained growth. September labor data showed higher hiring and higher unemployment driven by labor-force re-entry, which could lower interest rates while keeping buyer confidence intact. Compass counts over 350,000 more withdrawals than in 2024 (year to date through November 15).
Read at www.housingwire.com
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