GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Are you looking to purchasereal estate?
While youre at it, you may also be interested inthe 20 most affordable cities.
For one, large department stores, likeMacys and Nordstrom, are leaving the area.
I have a feeling a reality check is on the way.
With remote work becoming more common, many people are leaving due to the citys costs.
Its like witnessing a gold rush.
The median home price has already dropped by 8.2% compared to last year.
I believe this decline will continue.
These factors indicate cooling over thenext few years.
Austin is another market that gives me pause, says Adde.
The influx oftech companies and employeeshas driven prices to levels.
It feels similar to watching a balloon being inflated too much eventually, it will burst.
With home prices rising by 32% in the past two years, a correction appears inevitable.
Additionally, the number of homes sold decreased 4.6% year-over-year.
Taking your search to a neighboring metropolitan area might be beneficial to preserve your investment.
Even though homes sell quickly, sale prices are dropping, indicating a declining housing market.
These items indicate a market decline in the near future.
Similarly, the average days on the market increased 12 days year-over-year to 47, according toRedfin.
Los Angeles, California
Nearly 21% of homebuyers in Los Angeles are looking to move elsewhere.
More From GOBankingRates
Share This Article:
