As I mentioned in my last email to you, there has been a noticeable shift in the market here. Nothing drastic, but definitely a deceleration. Homes priced well are still fetching multiple offers, though fewer. The increase in interest rates and the public mood have cooled things down to a more "normal" pace.
I came across an article which discuss which markets will fare best and which will feel the impact of the shift more intensely.
According to the article, the following markets are going to feel this shift the most:
" Eleven regional markets received a high-risk label, namely: Atlanta, Georgia; Boise, Idaho; Cape Coral, Florida; Deltona, Florida; Des Moines, Iowa; Jacksonville, Florida; Lakeland, Florida; Miami, Florida; North Port, Florida; Orlando, Florida; and Winston Salem, North Carolina.
Nine of the markets are located in the nation’s booming Southeast corridor. Fortune claimed that Jacksonville, Atlanta and Orlando made the list given the massive number of homebuilding taking place, which would leave them at a higher risk of oversupply if the bubble bursts."
Conversely, the lowest risk markets (including ours) are as follows:
"Meanwhile, Fortune identified 37 housing markets that are considered low risk, some of which included: Boston, Massachusetts; Columbus, Ohio; Denver, Colorado; Grand Rapids, Michigan; Los Angeles, California; Portland, Oregon; Sacramento, California; San Diego, California; San Jose-Sunnyvale, California; Seattle, Washington; and Honolulu, Hawaii."
You can find the f ull article here: https://www.mpamag.com/us/mortgage-industry/market-updates/real-estate-crash-which-markets-will-survive/408536