Historic new home supply surge signals market shift, price cuts imminent.

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The housing market is experiencing seismic shifts as new home supply surges to levels not seen since the 2008 financial crisis. With home sales volumes plummeting due to overpricing and states like Florida and Texas witnessing the end of their housing booms, signs of a market downturn are becoming increasingly evident. As inventory swells and demand wanes, the stage is set for a summer marked by price cuts and a reshaping of the real estate landscape.

  • New home supply reaches highest level since 2008, signaling a significant increase in available inventory.
  • Home sales volumes experiencing historic decline attributed to overpriced homes, with 2023 and 2024 marked as particularly challenging years.
  • Housing boom in Florida and Texas appears to be ending, with both states ranking in the top 10 for increased supply/listings year-over-year.
  • Anticipation of price cuts as high inventory levels could lead to a market shift during the summer months.
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