These top 5 housing markets are expected to crash first — do you live in one of these fast-growing cities?


Olde Hornet

Well-Known Member

Austin, Texas​

According to Consumer Affairs’ poll, of the 50 most populated cities in the country, 33% of survey respondents believe Austin will be the first American market to crash.

As of 2021, the city’s population was 964,177, with a median resident age of about 34 years old. The estimated pre-pandemic household income was $46,217, and per capita income was estimated at $54,414.

The median home price on listings in Austin for July was $650,000 at $364 per square foot, up 18.2% year over year. But homes have been selling at nearly double that amount, with the median home sale price at $1.3 million, with homes being picked up after a median 41 days on the market.

A 15% drop in home prices would lower the median listing price to $552,500 — a drop of $97,500.

Atlanta​

Atlanta takes the runner-up prize for the most likely city to see a housing crash, with 26% of respondents expecting its prices to fall shortly.

Georgia’s State Capitol was home to 496,461 people as of 2021, with a median resident age of 33 years old. The estimated pre-pandemic household income was $66,657, and median household income as of 2020 was $64,179.

As of July, the median listing home price in Atlanta was $435,000 at $267 per square foot, up 8.7% year-over-year. The median home sold price was $395,000, with homes selling after a median 40 days on the market.

A 15% drop in home prices would lower the median listing price to $369,750 — a drop of $65,250.
 
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