5 minutes
The U.S. housing market is showing steady growth overall, with national year-over-year gains above 5%. However, some regions are experiencing potential cooling trends, as highlighted by CoreLogic's Market Risk Indicator (MRI). The article identifies the top five U.S. markets facing a high risk of price declines in the next year, including areas in Florida, Georgia, Washington, and South Carolina.
Factors contributing to this potential slowdown include rising inventory levels in certain markets like Florida and affordability concerns due to increasing mortgage rates and housing costs nationally. Regional disparities exist, with Northeastern states leading in home price growth while other states like Idaho, Washington, and Utah are further from their price peaks.
Expert insights from Dr. Selma Hepp emphasize challenges for potential homebuyers due to rising homeownership costs. Despite an anticipated increase in for-sale inventory, affordability issues persist, impacting sales and market dynamics.
Looking ahead, the CoreLogic HPI Forecast predicts a modest rise in home prices nationally over the coming years. While regional variations exist, staying informed about local trends is crucial for buyers navigating the evolving U.S. housing market landscape.
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