In the last few months, data from Realtor.com shows the real estate market has begun slowing down, including some big cities that have been leading the post-recession housing boom. Clare Trapasso, senior news editor at Realtor.com, reports the website looked at annual price, inventory, days on the market, and price reduction changes from October 2017 to 2018 in Realtor.com listings in the 100 largest metros. Then, the team identified which areas are seeing the biggest shifts—and why. Check out the findings below.
1. Stockton, Calif.
2. San Jose, Calif.
3. San Francisco, Calif.
4. Nashville, Tenn.
5. San Diego, Calif.
6. Oxnard, Calif.
7. Honolulu, Hawaii
8. Dallas, Texas
9. Seattle, Wash.
10. Portland, Ore.
To be clear, prices aren't always dropping in these places, which are predominantly located on the West Coast. Mostly, they're decelerating, coming back down to earth. So bargain hunters can put their wallets away.
But in addition to a substantial increase in the number of home listings with price reductions, we found other potentially game-changing signs of market adjustments, including a surge in the amount of inventory for sale and the number of days on the market.
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