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Home prices stagnate in prior boom cities as others reach highs, Eric Basmajian notes

Home prices stagnate in prior boom cities as others reach highs, Eric Basmajian notes
Boom cities lag, new highs elsewhere

Eric Basmajian, industry influencer, observes that U.S. cities which experienced the largest home price booms—such as Phoenix, Tampa, San Francisco, and Seattle—are now lagging in market performance.

In contrast, areas like New York, Chicago, Cleveland, and Detroit have shown steady gains and are currently at all-time highs for home prices. Basmajian asserts that regions with bigger housing booms now face correspondingly greater struggles in their real estate markets.

Basmajian has previously shared a free guide to understanding the U.S. housing cycle for property market observers. He has also pointed out that combining finished and unstarted homes into a single months supply figure masks significant cost differences in housing. These earlier remarks echo his ongoing attention to nuanced market factors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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