Where are the strongest, and weakest, housing markets?
Weakness is most pronounced in Florida -- Tampa, Sarasota, Naples, Orlando. Areas in Texas -- Austin, Dallas -- are weaker. We have seen weakness in Phoenix. Those markets are seeing inventories rising at a faster rate than the national rates.
There is resilience in the Northeast -- again, more skewed to that move-up price point. Even on the West Coast, in pockets of California where it has been a bit more sluggish, the high end has been performing well, according to builders. Las Vegas overall is doing better than a lot of other Southwest markets. There is a divergence that I attribute to where there is the most production of homes. The largest increase in listings is where we see the weakness.
Thanks, Ivy.
Write to Shaina Mishkin at shaina.mishkin@dowjones.com
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(END) Dow Jones Newswires
October 11, 2024 10:38 ET (14:38 GMT)
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