The article discusses recent trends in U.S. housing markets, highlighting slight price declines across various states, particularly Oregon and Georgia. Texas and Florida, once highly sought after during the pandemic migration wave, are now seeing falling home prices due to a significant increase in inventory—30.4% and 38.4%, respectively. While home prices have declined, sales contracts are down by 3.5% this year, indicating that rising inventory has not yet led to increased home sales, underscoring a potential shift in market conditions.
The price drops in U.S. housing markets are minor, with significant declines in states like Oregon and Georgia due to rising inventory affecting prices.
Texas and Florida, once popular migration destinations, are witnessing home price declines and increased inventory, signaling a shift in market dynamics.
The inventory of single-family homes for sale has surged, particularly in Texas and Florida, which traditionally experienced rising home prices.
Total sales contracts for homes are down 3.5% from 2024, indicating that despite rising inventory, demand remains weak in the housing market.
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