{"id":127184,"date":"2025-08-07T20:02:12","date_gmt":"2025-08-07T20:02:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/127184\/"},"modified":"2025-08-07T20:02:12","modified_gmt":"2025-08-07T20:02:12","slug":"home-prices-are-down-in-35-of-us-markets","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/127184\/","title":{"rendered":"Home prices are down in 35% of US markets"},"content":{"rendered":"

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New-home prices fall amid oversupply<\/p>\n

Homebuilders<\/a> \u2014 who are facing a rare surplus of unsold finished homes \u2014 are slashing prices and offering incentives to lure buyers. The average price of a new home, including concessions, is down 1.5% compared to a year ago, according to JBREC.<\/p>\n

\u201cNew home construction (is) exceeding job creation in most areas,\u201d the report notes<\/a>. \u201cThe supply of newly built homes is outpacing new demand.\u201d<\/p>\n

This mismatch is reshaping builder strategies nationwide.<\/p>\n

From the Southeast to the West Coast, and increasingly in the Midwest and Northeast<\/a>, price weakness is expanding as once-resilient markets lose their pricing power, the report added. <\/p>\n

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Job market slows, weakening buyer demand<\/p>\n

The labor market<\/a>, a critical driver of homebuyer activity, is faltering and dragging housing demand down with it, JBREC argues.<\/p>\n

\u201cEmployment growth has slowed, and some markets are losing jobs compared to last year,\u201d the report states. \u201cThe high-income sectors that typically drive new home purchases (information, financial activities, and professional and business services) are experiencing the steepest losses.\u201d<\/p>\n

While job growth continues in some post-pandemic hotbeds like Charlotte, Salt Lake City and San Antonio, the pace has slowed notably. In contrast, the Bay Area and other high-cost coastal markets are now posting year-over-year job losses. <\/p>\n

These declines disproportionately affect high-income workers, who are most likely to purchase new homes<\/a>. And despite economic uncertainty, rental housing has shown more strength, the report found.<\/p>\n

Buyers, sellers and investors<\/p>\n

Buyers with secure jobs may find rare opportunities in the current climate. For sellers, however, the dynamics have shifted as fast, above-list-price sales are no longer the norm.<\/p>\n

\u201cThe days of quick sales at a high asking price have ended in most markets,\u201d the report said. \u201cRealistic pricing and patience will be essential.\u201d<\/p>\n

Entry-level sellers<\/a> must meet the affordability constraints of first-time buyers, while sellers of move-up and luxury homes must consider the logistics of their buyers who need to sell their current properties.<\/p>\n

Investors face a mixed bag. Flippers and those targeting high rental yields may struggle, but long-term investors with a strategy focused on asset diversification or rental portfolio growth may find opportunities, JBREC explained.<\/p>\n

\u201cThe housing market is entering a new phase after years of explosive growth,\u201d the report concludes. \u201cUnderstanding these trends can help you make better decisions, whether you\u2019re buying, selling or simply planning for the future.\u201d<\/p>\n

What does HousingWire Data say?<\/p>\n

Of the 366 metro areas tracked by HousingWire Data<\/a><\/strong>, 168 (or 45.9%) have experienced year-over-year declines in their median prices as of July 11. The data also confirms that Texas and Florida continue to experience significant pressure.<\/p>\n

Florida metros are experiencing widespread price declines, with 85% showing year-over-year declines, while 60% of Texas metros are experiencing a dip.<\/p>\n

Miami-Fort Lauderdale-Pompano Beach leads the declines in Florida with a 10.5% year-over-year decline, according to\u00a0HousingWire Data. The median price in the metro area has fallen from $849,000 to $760,000. There\u2019s a similar stories in other areas:<\/p>\n