HousingWire Daily Mike Simonsen on the 11 states where home prices are below 2024 levels
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Jun 12, 2025 Join Mike Simonsen, founder of Altos Research, as he dives into the intriguing dynamics of today's housing market. With rising inventory yet falling home prices, Simonsen analyzes regional trends, spotlighting the stark differences between states like Texas and Florida. Discover how homeowners are hesitating to sell despite slumping prices and what this means for first-time buyers facing high interest rates. Get ready for insights into market fluctuations, significant price reductions, and the evolving landscape of real estate data!
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Inventory Normalizing Nationwide
- Inventory is rising nationally, returning to pre-pandemic levels around 800,000 homes on market.
- The historic north-south inventory divide is fading as northern states see inventory growth.
11 States With Flat or Lower Prices
- Eleven states now have home prices at or below 2024 levels, mostly Sunbelt states.
- These include Texas, Florida, Arizona, Georgia, South Carolina, Alabama, plus Montana, Iowa, New York, Hawaii, and Colorado.
Longer Selling Times Nationwide
- Homes are taking about 20% longer to sell than last year nationally, now 65 days versus 55.
- The price segment around $380,000 to $400,000 shows the shortest days on market, indicating high demand.