Part 7/9:
Divergence in Housing Markets
Despite the overall negative trends, not every region is similarly affected. There are still pockets of the U.S. where prices continue to appreciate, particularly in parts of the Northeast and Midwest. States like Illinois, Pennsylvania, and Kentucky are witnessing growth, with Kentucky leading the pack at a remarkable growth rate of 7% year-over-year. The sales performance of builders, as evidenced in D.R. Horton’s report, reflects this disparity.
In the Northeast, some regions have remained stable in terms of sales, contrasting sharply with the severe declines experienced in southern markets. This suggests a shift in demand dynamics and potential economic migrations back towards historically thriving centers.