* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

    Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

    Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand

May 9, 2024
in Business
Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand
Share on FacebookShare on Twitter

Home prices are falling in parts of Florida and Texas as buyers tap out and supply catches up with demand.

The median sale price for existing single-family homes rose in 93% of 221 metro areas in the year through March, the National Association of Realtors reported this week.

There were falls in just 15 markets, and five of those were in Florida and Texas — Cape Coral-Fort Myers (-4.4%), Panama City (-3.8%), and Crestview-Fort Walton Beach-Destin (-0.2%), and San Antonio-New Braunfels (-4.6%) and Austin-Round Rock (-0.3%) respectively.

That’s a striking contrast to the national picture. Overall, the median home price rose 5% to north of $389,000, led by metro areas such as Fond du Lac, Wisconsin (23.7%), and the Illinois regions of Kankakee (22%), Rockford (20.1%), and Champaign-Urbana (20%).

Florida and Texas are known for their red-hot real estate markets, so it’s surprising to see prices dropping in several parts of those states.

Buyers may be getting priced out. Austin-Round Rock ranked among the 50 most expensive markets analyzed by NAR, with a median sale price of $467,000.

Cape Coral ($415,000) and Panama City ($351,000) were also in the top 100. Homeowners in Florida face the added headache of surging insurance costs due to climate risks.

Not only are homes expensive, but taking out a loan to buy one has become far more costly, creating an affordability crisis.

The monthly mortgage payment on a typical home with 20% down jumped by more than 9% last quarter to north of $2,000, NAR found.

The increase is largely down to the Federal Reserve’s campaign to crush inflation by raising interest rates. The average 30-year fixed-rate mortgage rate was nearly 7% last quarter — more than double its 3% level at the start of 2022.

Florida and Texas have also scrambled to build more houses in recent years, since the pandemic sparked a surge in people moving to those states.

Redfin identified only 10 metro areas that increased their housing supply in the year to March, and eight were in those two southern states.

‘Lock-in effect’

Inventory has now caught up with demand in some areas, leading to homes sitting on the market for longer, sellers cutting prices, and price growth stagnating.

That differs from much of the country, where supply remains heavily constrained duer to the “lock-in effect” — sellers holding off on listing their homes because they don’t want to give up their cheap mortgages.

Florida’s Cape Coral led the supply boom with a 51% increase in homes for sale last quarter. It also had one of the highest rates of seller price cuts and saw an unrivaled 31-day increase in the time taken to sell a typical home, Redfin found.

In line with NAR, Redfin found that prices fell in San Antonio and were flat in Austin, even as the vast majority of markets recorded price increases.

The takeaway is that a combination of sky-high prices, steeper mortgage rates and other costs like insurance squeezing buyers’ budgets, and supply catching up with demand has resulted in prices flatlining or falling in parts of Florida and Texas, bucking the national trend.

That’s bad news for sellers and homeowners hoping their properties will appreciate in the near term. But it could give bold buyers an opening to snag their next home.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Business Insider – https://www.businessinsider.com/home-prices-housing-market-florida-texas-real-estate-nar-mortgage-2024-5

Tags: businessfallingPrices
Previous Post

Another Pokémon Go Fest 2024 datamine reveals interesting details about in-person research events

Next Post

An OpenAI rival says its new AI model is not only cheaper to run than GPT-4, but it’s also more useful

Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

September 19, 2025
The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

September 19, 2025
Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

September 19, 2025
CHOP researchers unveil framework for boosting children’s oral health – News-Medical

Revolutionary New Framework Set to Transform Children’s Oral Health

September 19, 2025
‘We will not allow politics or outside forces to rewrite the story of Wisconsin’s public schools’: Underly delivers her fifth State of Education Address – Spectrum News

Underly Pledges to Shield Wisconsin’s Public Schools from Political Interference in Impactful Education Speech

September 19, 2025
Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 2025
Roane State and TCAT Knoxville celebrate ‘Countdown to Grand Opening’ for Knox Regional Health Science Education Center – WVLT

Roane State and TCAT Knoxville Kick Off Exciting Countdown to Grand Opening of Knox Regional Health Science Education Center

September 19, 2025
Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

September 19, 2025
Klutch Sports Group Signs Maria Taylor – Variety

Klutch Sports Group Scores Big with Star Broadcaster Maria Taylor Joining the Team

September 18, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (826)
  • Economy (846)
  • Entertainment (21,725)
  • General (17,118)
  • Health (9,891)
  • Lifestyle (859)
  • News (22,149)
  • People (850)
  • Politics (856)
  • Science (16,056)
  • Sports (21,345)
  • Technology (15,828)
  • World (830)

Recent News

Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

September 19, 2025
The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

September 19, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version