Florida and Texas are collapsing. Zillow revising down value estimates by 21%.

The Texas and Florida housing markets are beginning to crash. With inventory levels spiking and Zillow value estimates declining in these markets.

Especially in cities like Dallas, Austin, Tampa, and Orlando. These are housing markets are the inventory levels of homes for sale have skyrocketed out of control. Home buyers and investors in these areas will begin to see better deals on the market throughout the 2nd half of 2024.

However - home prices are still high in many of these markets. Which means many buyers and real estate investors are still on the sidelines, even if they are actively looking at listings on Zillow.
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[ReventureConsulting]

Pretty amazing what's happening in Texas and Florida right now. Inventory going up like a hockey stick and showing no signs of stopping. Individual listings getting 20% Zillow value write-downs in a matter of months.

Of course - prices are still high across these markets. Homebuyers and investors need to be discerning. Because there will be a lot more "deals" over the 2nd half of 2024.

However - make sure you understand the inventory and price trajectory in your city and ZIP before buying anything. Particularly how overvalued prices and how much further they could fall.

Access the data for your city on Reventure App: www.reventure.app

start by searching your ZIP coding and exploring the home value and inventory trends for free.

[Riggsnic_co]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[HodgeChris]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[KarenLavia]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[ruffleschips]

$650, 000 for a Florida cottage is ridiculous.

[Rich-hmux]

The prices in Texas have gotten so out of control high, collapsing 20% is still crazy high.

[dhammadina]

Crash is happening! Houses that used to be a $100K went up to $400K in a few years time and now they’re dropping to $300K! That’s not a crash yet!

[Wileytiger-elpu]

People realizing Florida is hotter than hell and moving back to where they came from 😂😂😂

[umutyldran]

I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9, 000 in an IRA and $40, 000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150, 000. If I can do this in a year, anyone can.

[Spaethon]

Living in Tampa Bay and its music to my ears. Houses are going up for sale all over, and not 1 house in my neighborhood has sold in at least a year. Houses in the area should be valued around 150K, not 500k. COVID made people beyond stupid.

[FamilyofSeedsCee]

It's well over due. Prices in Tampa are insanity.

[gary]

HOA, insurance, and taxes will keep me from even wanting another house.

[FastCar]

“Those Who Do Not Learn History Are Doomed To Repeat It.” I was Residential and Commercial Real Estate Appraiser in Fl from 2004-2008 and I tried to warn everyone I could but nobody believed me. I saw many of my friends who were Real Estate Agents themselves lose their homes which they had only bought a few years prior. I could not understand why they were buying much bigger houses than their families needed. I am glad I am not there to witness that again....heart breaking for sure.

[OwenFlex]

Worried about the housing market crash in Florida and Texas? People are saying it's imminent.

[zj]

Appreciate the Texas market update 🙏🏼 We grew out of our 3 bedroom house and been wanting to upgrade for three years. Still waiting on the sidelines!

[AbcDef-iqno]

I find it very interesting in Florida, just as the market is being flooded with listings, that this state started draconian state-mandated improvements to condos (known as assessments). Is it just me or does this seem like a planned event to further corrupt the Florida housing market?

[sinister_right]

I was a realtor in Florida during the last crash in 2008. Clients who purchased homes the prior few years would call me in a panic telling me they want to sell before they're underwater and have negative equity. My advice was always if you need or want to sell, then Undercut All your Competition/Neighbors on the list price. List the house for basically a break even price. Not a single one of them took that advice and made the mistake of thinking that thier home was worth more then everyone else's. The worst thing you can do is list high and slowly cut the price and follow everyone in the race to the bottom.

[kimberiysmarketstrategy]

I lived in TX for 2 years & hated it. I mean, don't get me wrong truly some of the best people in the whole world, but the weather was just unbearable hard to work most of the year either too hot or too cold no way to make money like that no way to survive.

[JamesSmith-knvs]

This is what happens when you're greedy.

[jamrmx]

You've been saying the same speech for 4 years now. I remember when I skipped buying a house in 2021 cuz you said they would crash. Price at that time was 280k, it peaked to 500k and now they have plummeted to 400k, still 45% more expensive since your first crash prediction.