Could the US Housing Market Bubble be turning into a Housing Crash? Perhaps in certain cities across the Sun Belt, where external homebuyer interest has crashed!
For instance – the net number of homebuyers looking to move into the Dallas Housing Market has declined by 50% from Q1 to Q3 2021 according to data from Redfin.
The Phoenix Housing Market is experiencing something similar. Net inbound buyers declined by 25% over the last two quarters. Meanwhile, Las Vegas’ Housing Market experienced a 35% decline.
But the metro that is worst impacted seems to be Atlanta. The Atlanta Metro went from a nearly 9,000 net inflow in Q1 2021 to less than 5,000 in Q3 2021, putting it below pre-pandemic levels.
Other Sun Belt markets are fairing better, particularly in Florida. Miami and Tampa Housing Markets have experienced a big surge in migration home buyer demand over the last six months.
Cities like San Francisco, New York, and Los Angeles are still experiencing an exodus of people leaving these areas. But in New York there seems to be some improvement, while Los Angeles’ Real Estate Market is still hemorrhaging people.
Redfin Article: https://www.redfin.com/news/q3-2021-housing-migration-trends/
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0:00 The Great Migration is OVER!
1:28 Top Inbound Buyer Markets Q3 2021
2:36 Decline in Homebuyer Migration Demand
3:51 So What Does this Mean?
4:38 Dallas Texas Heading for a CRASH?
5:58 Phoenix, Las Vegas, & Atlanta = the Same
7:14 Don’t Count on the Exodus Continuing
7:57 Migration is Cyclical (1990-2020)
9:08 Miami and Tampa are BOOMING!
9:56 Florida DROPOFF Coming?
10:49 How are the Exodus Cities Doing?
11:56 New York Rebounding / Los Angeles Collapsing?
12:52 Seattle & Denver are Exodus Cities too!
13:56 DO THIS NOW!
#HousingMarket #HousingCrash #GetReady