A small city in Louisiana and two tourism hubs are most at risk of falling home prices in the coming year, according to a forecast released last week by real estate data firm CoreLogic. Lake Charles, Las Vegas and Miami all could endure declining home prices, CoreLogic said.
The coronavirus has sparked a housing boom in much of the country. On the supply side of the housing equation, many homeowners decided not to sell this spring or summer, a trend that squeezed the number of homes for sale. As for demand, many white-collar workers kept their jobs – and realized that a house full of people working and schooling remotely was getting a bit cramped.
Inventory shortages and bidding wars in much of the nation.
Nationally, home prices rose 5.9% from August 2019 to August 2020, CoreLogic said.
Most at risk for falling home