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5 housing markets where prices are most likely to fall over the next year, including Miami - Business Insider

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5 housing markets where prices are most likely to fall over the next year, including Miami

However, with an expected growth in unemployment, CoreLogic expects growth to slow down drastically by July 2021.

Over the past several months, real estate has seen suburban, and suburban-like, markets heat up as prospective homeowners seek larger spaces and cheaper prices. Paired with historically low mortgage rates and low inventory, that has made buying a home more competitive than ever in some places. , called Home Price Insights, found that national home prices in July saw a 5.5% year-over-year increase, the fastest growth rate since August 2018.

CoreLogic named five metro areas most likely to see a decline in home prices over the next year: Las Vegas, Nevada; Prescott, Arizona; Lake Charles, Louisiana; Miami, Florida; and Huntington, West Virginia.

 

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