Oil shock keeps mortgage rates high and cools home price outlook

Date:

Share post:


Top markets clustered in Northeast, Midwest and Silicon Valley

“The strongest‑performing markets include Reading, PA; Rochester, NY; Springfield, MA; Allentown‑Bethlehem‑Easton, PA‑NJ; Rockford, IL; Hartford, CT; Racine, WI; Syracuse, NY; and Manchester, NH, alongside San Jose, CA, which stands out due to its exposure to the tech sector,” Veros said.

Reading led with a 4.2% gain, followed by San Jose–Sunnyvale–Santa Clara at 4.1%; Rochester and Springfield at 4.0%; Allentown–Bethlehem–Easton at 3.9%; Rockford and Hartford at 3.8%; Racine and Syracuse at 3.7%; and Manchester–Nashua at 3.6%.

Sun Belt boomtowns turned soft spots

By contrast, Veros said “several Sun Belt markets that saw rapid growth during the pandemic [were] now facing headwinds.”

Cape Coral–Fort Myers, Fla. (‑2.7%), Naples–Marco Island, Fla. (‑1.7%), Austin–Round Rock–San Marcos, Texas (‑1.4%), Panama City–Panama City Beach, Fla. (‑1.1%) and Pueblo, Colo. (‑1.1%) were among the weakest markets.

They were joined by Corpus Christi, Sherman–Denison and Lake Charles (all ‑1.0%), Urban Honolulu (‑0.9%) and North Port–Bradenton–Sarasota (‑0.8%).



LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

New United Mile Play Promo for Flights Through June 9, Check Your Offer and Register Now

United Mile Play Promo United Airlines has launched a new Mile Play promotion that could earn you bonus...

AI angst mutates into ‘FOBO’ as Fear of Becoming Obsolete fuels quiet resistance across the economy

There’s a new acronym reshaping how workers think about their careers: FOBO — the Fear of Becoming...

When Silos Hinder Innovation—and When They Can Help

How to balance collaboration and independence.

Canada’s trade deficit widens as gold drives record imports

Canada’s trade deficit widened to $5.7 billion in February − the largest shortfall since August − as...