Unemployment and supply of homes are correlating higher, layoffs soar 410% in February, with inventory showing a 24% increase, the highest in years.

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The real estate rollercoaster is hitting some unexpected twists and turns, with February delivering a double whammy of unsettling news. Brace yourselves: layoffs have skyrocketed a jaw-dropping 410% compared to last year, hitting levels not seen since the gloomy days of 2009. And guess what? The housing market is feeling the aftershocks big time.

Picture this: home inventory levels have ballooned by 24% from this time last year, painting a landscape flooded with “For Sale” signs. But hold on, it gets wilder. The Sunbelt, known for its sunny skies and hot markets, is now facing a deluge of available properties, setting records for supply surges.

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Meanwhile, apartment vacancies are creeping up to their highest levels in seven years, hinting at a shift in the rental market’s tides. As sellers flood the market with 14% more listings than last year, buyers seem to be hitting the brakes, with overall demand dipping by 15% since March 2022.

It’s not all doom and gloom, though. With supply outpacing demand, nearly a third of homes are slashing their price tags, opening doors for savvy buyers. Even new home sales are feeling the pinch, with prices taking a 20% nosedive compared to previous periods.

In the midst of this real estate rollercoaster, it’s clear that we’re in for a wild ride. But with challenges come opportunities, and navigating these turbulent waters will separate the rookies from the pros.

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