Prospective homebuyers across the U.S. are facing a chronic shortage of available houses, but the scarcity is worse in some parts of the country, according to new Bank of America research.
"The hot quadrant includes cities that continue to have fast inward population growth and already relatively stretched housing stocks," the study said. "San Antonio, Dallas, Orlando and Houston all fall under this categorization." "So what does this mean for the local housing market?" the note said. "It could mean that house prices might cool faster over the long term when home selling traffic picks up again."Bank of America conducted the analysis by looking at real-time migration flows based on its internal data and housing stock. The findings come as would-be homebuyers and sellers grapple with a nationwide housing shortage.
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