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In fact, some cities thrived.
Lets look at sevenreal estate boomtowns expected to plummet in value by the end of 2025.
Boise, Idaho
Boise stands out as the poster child for pandemic boomtowns.
People flocked to Boise for cheaper houses and a laid-back lifestyle.
Austin, Texas
Austin became a hotspot for tech workers and companies during the pandemic.
Everyone wanted a piece of its cool vibe and job opportunities.
But heres the thing: When too many people rush to one place, it gets expensive fast.
Malone explained that when this happens, people start looking elsewhere.
Austin might lose some of its appeal as other cities start to look like better deals.
As more companies call workers back to the office, fewer people might want to move to Phoenix.
All this could lead to a drop in home values, making it a city to watch.
But just like the other cities, its gotten more expensive.
As prices have gone up so much, Salt Lake City isnt the bargain it used to be.
He thinks places like Tampa are probably themost likely placesto be seeing drops in demand now or soon.
Well, as Florida got more expensive, it became less attractive to out-of-state buyers.
This could lead to a big drop in home values by 2025.
Gainesville, Florida
Gainesville, with itsuniversity and growing tech scene, was another Florida hotspot.
But it might face the same issues as Tampa.
As the price gap between Florida and other states shrinks, people might start looking elsewhere to buy homes.
This could cause Gainesvilles house prices to tumble by the end of 2025.
Buteven luxury marketscan face problems.
When prices in Florida rose, the gap in prices between it and the Northeast shrunk, Malone said.
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