Real estate markets are local, not national. When someone says, “the housing market is about to drop,” you have to ask, “which housing market?” Every city has different migration patterns, housing market activity, building codes, and inventory. One market in the Midwest could see price jumps while somewhere on the coast sees declines. So, which markets are getting hit hardest in the latest round of price cuts and which are still on their way up?
You’ll need to know the different housing market metrics before making a prediction. But you don’t have to look into the data by yourself. You have Dave Meyer by your side! Dave has been looking at a few key markets to uncover which are seeing home price drops and which are seeing appreciation. Traditionally “strong” cities are getting hit the hardest as interest rates rise and inventory comes on the market.
Some cities look like they’ll see double-digit price cuts over the next two years, while others that have already seen record price growth will continue to outshine their more well-known coastal counterparts. As an investor, this is the exact type of data you need to know when making housing market decisions. The right market could lead you to financial freedom, while the wrong one could burn your hard-earned capital!
Dave:
Hey, everyone. Welcome to On the Market. I’m your host, Dave Meyer. We all know that the housing market over the last couple of years has been absolutely red hot, but starting at the beginning of 2022, there have been a lot of headwinds that have caused people to wonder if the housing market is going to crash or see some modest declines over the next couple of years. And if you listen to the show, you probably know that on a national level, the housing market is still doing pretty well, but we are starting to see some pretty significant signs that the hot market we’ve been in is starting to cool down. But really, real estate investing is all local. So as an…