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Zillow’s data on September 2021 home prices suggests that 1) the US Real Estate market is in a big Housing Bubble and 2) certain cities could already be experiencing a Housing Crash out of the Bubble.
Zillow just stopped buying homes. Could this be because home prices have started DROPPING across America? 10 Cities – including San Jose, Santa Cruz, Pittsburgh, Detroit, and Portland – experienced home value declines in September 2021 compared to the previous month (not seasonally adjusted).
Realtors and real estate investors in many of these markets – back in the summer – said that home buyers “NEEDED TO BUY NOW” or else “HOME PRICES WOULD CONTINE GOING UP”. But Zillow’s data suggests that these real estate commentators were wrong. And that the Housing Market across the Bay Area and the Midwest has flatlined and is declining.
Other markets such as Austin, Boise, and Salt Lake City, while still experiencing moderate price increases, have stabilized to the point where prices aren’t going up by much. These cities could be next in line for home price drops.
Meanwhile, the Southeast US still looks to be in a massive Bubble. Particularly Florida Real Estate Markets like Miami, Jacksonville, Ocala, Fort Myers, and Cape Coral. Other Housing Markets across North Carolina and Tennessee are also experiencing surging prices and low inventory.
Reventure Consulting will continue to track the data from sources such as Zillow and Realtor.com in order to update subscribers on new trends in home prices in coming months.
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0:00 Great News!!!
1:14 Southeast / Midwest Dichotomy
2:30 Summer 2021: Take a Trip BACK
3:45 Markets still in a BUBBLE
5:06 Florida: There’s Still HOPE!
6:26 BOTTOM 10 Markets
7:35 Lot’s of RUST on that List
9:08 Austin, Boise, SLC ALMOST There
9:54 Bay Area Connection
10:39 It’s Seasonal, Stupid
11:52 The Market has Turned!
12:33 SMASH that LIKE Button
#HousingCrash #Zillow #Real Estate