U.S. Cities Falling in Popularity—Potential Bargains for Homebuyers
The Sun Belt’s charm seems to be fading.
Recent data from Realtor.com® shows a decline in popularity for several Southern cities. Market “hotness” is gauged by property views on Realtor.com and the duration listings remain active before being sold.
Manchester, NH, tops the list for the ninth consecutive month, with listings receiving 3.2 times more views than average and selling in just 23 days. Despite a high median price of $465,000, it’s cheaper than nearby Boston, where the median is $840,000.
However, not all markets are thriving.
3 Real Estate Markets Losing Appeal
Savannah, GA has dropped 118 spots from last year’s rankings. Homes linger 52 days on the market, a 32% increase from the previous year, with a median list price of $401,900—below the national median of $425,000. This presents a potential opportunity for buyers seeking deals.
Other cities experiencing declines include Tampa, FL, down 106 spots, and Blacksburg, VA, down 105 spots. Notably, this data was collected before Hurricanes Milton and Helene impacted Florida and the Southeast, and Tampa also appeared on August’s list of declines.
According to Hannah Jones, Realtor.com’s senior economic data analyst, “Many less-hot markets have seen a significant increase in housing inventory, which can meet demand without driving up prices.”
The Decline in Southern Demand
During the COVID-19 pandemic, the South witnessed a surge of buyers, sparking a construction boom and increasing inventory in Sun Belt cities.
Robert Washington, owner of Savvy Buyers Realty in Florida, notes, “Though the market has cooled recently, it feels like a healthy correction after consecutive years of appreciation. The market is taking a breather before resuming its pace.”
Explore listings in these less-desirable markets where savvy homebuyers might find a competitive edge.
