While most of the country is experiencing a housing shortage, two states have suddenly found themselves with a slew of inventory and not enough buyers. , are now seeing a surplus in unsold properties, and as a result, sellers are slashing prices, according to a site Redfin. For context, on the west coast of the Sunshine State, the number of homes on the market jumped roughly 50 percent from a year ago in metros such as Cape Coral and North Port.
“Last year was by far the slowest market I’ve seen in my 20 years as a real estate agent,” said Connie Durnal, a Redfin Premier real estate agent in Dallas. “Move-up buyers are almost nonexistent. Even though a lot of homeowners have built up a ton of equity, many don’t want to sell because their monthly payment would double or triple due to high mortgage rates.” Abigail Montanez is a staff writer at Robb Report.
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