Housing Affordability Challenges Persist, Yet Buyer's Market Flourishes In Texas And Florida

Benzinga05-23

Amid rising mortgage rates and general unaffordability nationwide, cities in Florida and Texas are emerging as havens for homebuyers.While the broader U.S. housing market continues to favor sellers ...

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Jacksonville and Tampa, with a market heat index of 44, and Miami, at 39, are seeing adjustments due to increased inventory levels and slower sales velocities.Jacksonville and Tampa have benefited from construction efforts that have replenished housing stocks to levels closer to demand, Zillow noted, easing the pressure on buyers.Austin and San Antonio, both with an index of 52, have seen their inventory levels rise above pre-pandemic figures. The increase in housing supply has significantly shifted the mark","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4515":"5G概念","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","ZG":"Zillow Class A","LU0823411888.USD":"法巴消费创新基金 Cap","BK4585":"ETF&股票定投概念","BK4571":"数字音乐概念","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4507":"流媒体概念","BK4576":"AR","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4575":"芯片概念","BK4566":"资本集团","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4559":"巴菲特持仓","BK4501":"段永平概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4550":"红杉资本持仓","LU0823414478.USD":"法巴经典能源转换基金","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4551":"寇图资本持仓","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4079":"房地产服务","BK4512":"苹果概念","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4511":"特斯拉概念","BK4099":"汽车制造商","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","Z":"Zillow","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元"},"translate_title":"住房负担能力的挑战持续存在，但买方市场在德克萨斯州和佛罗里达州蓬勃发展","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZG":0.9,"Z":0.9},"content_text":"Amid rising mortgage rates and general unaffordability nationwide, cities in Florida and Texas are emerging as havens for homebuyers.While the broader U.S. housing market continues to favor sellers with high prices and tight inventory, specific metro areas in the South are bucking the trend, according to a Zillow market heat index.In Florida, Jacksonville, Orlando, Tampa, and Miami are classified as buyer's markets, indicating a shift toward conditions favoring buyers over sellers. Jacksonville and Tampa, with a market heat index of 44, and Miami, at 39, are seeing adjustments due to increased inventory levels and slower sales velocities.\nJacksonville and Tampa have benefited from construction efforts that have replenished housing stocks to levels closer to demand, Zillow noted, easing the pressure on buyers.\nDon't Miss:\n\nNewly-launched high-yield fund backed by residential real estate has an expected 7-9% annual dividend. Here’s how you can invest today.\nElon Musk has reportedly bought 6,000 acres of land just outside of Austin. Here’s how to invest in the city’s growth before he floods it with new tech workers.\n\nMiami, with the lowest index score among Zillow's highlighted cities, shows the most substantial buyer's market dynamics, characterized by higher inventory levels and a significant rate of price reductions. The shift has been particularly pronounced given Miami's high-value real estate market, where price adjustments can create substantial opportunities for buyers.\nTexas cities like Houston, Austin, and San Antonio each have a market heat index in the low 50s, classifying them as neutral markets.\nWith a market heat index of 55, Houston has a balanced dynamic where neither buyers nor sellers have an advantage. This is due to a consistent supply of new housing developments and a local economy that supports both sides of the market equation.\nAustin and San Antonio, both with an index of 52, have seen their inventory levels rise above pre-pandemic figures. The increase in housing supply has significantly shifted the markets to more neutral conditions, Zillow said, alleviating some of the competition among buyers seen in previous years.National Context\nNationally, though, the housing market remains predominantly in the seller’s territory. Ongoing challenges, including high mortgage rates and elevated home values, constrain buyer activity. \nTrending:\n\nPassive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to high-yield real estate notes that pay a fixed 7.5% to 9%.\n\nHotter markets on the West Coast and the Northeast have index scores well into the strong seller’s market territory.San Francisco and San Jose, with market heat indexes of 111 and 112, respectively, are characterized by fierce buyer competition and rapid sales cycles, with homes often selling in less than three weeks.\nBuffalo, New York, touted by Zillow as the hottest market of 2024, boasts a market heat index of 118. Zillow said that inventory constraints and high demand continue to drive quick sales and fewer price cuts, contrary to the national trend toward cooling.In places like Hartford, Providence, and other Northeastern cities, which also rank high on the seller's market index, the ongoing inventory shortages ensure sellers retain the upper hand.Experts suggest that the broader housing market may see a shift if mortgage rates stabilize or decline, potentially easing the current seller’s advantage in hotter markets.However, macroeconomic factors, including Federal Reserve policies and broader inflation trends, are likely to drive those changes.Read Next:\n\nInvesting in real estate just got a whole lot simpler. This Dara Khosrowshahi-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.\nBecome a real estate investor today — How to start small by mirroring BlackRock’s big move.\n\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article Housing Affordability Challenges Persist, Yet Buyer's Market Flourishes In Texas And Florida originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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