As mortgage rates have risen, fewer and fewer people are buying homes because they can’t afford the higher prices.
With fewer buyers, sellers are starting to drop in price, so you want to know where sales are falling the most.
Below, we share five places where home sales fell by at least one 16% since last year, according to a report from the real estate company roots RE/MAX.
5. Washington, DC
Decrease in closed sales from May of 2021 to May of 2022: of 10,391 to 8,673 (a decrease of 19.5%).
This metropolitan area includes:
–Washington DC.
–Arlington, Virginia
4. Trenton, New Jersey
Decrease in closed sales from May 2021 to May 2022: from 410 to 332 (a decrease of 19%).
This metropolitan area includes:
–Trenton
–Princeton
3. San Diego
Decrease in closed sales from May 2021 to May 2022: from 3,673 to 2,858 (a decrease of 20.4%) .
This metropolitan area includes:
–San Diego
–Chula Vista
–Carlsbad
two. Miami
Decrease in closed sales from May 2021 to May 2022: Of 11,392 to 8,835 (one decrease of 22.4%).
This metropolitan area includes:
–Miami
–Fort Lauderdale
–Pompano Beach
1. Los Angeles
Decrease in closed sales from May 2021 to May 2022: from 9,2009 to 7,553: (a decrease of 25.4%).
This metropolitan area includes:
–Los Angeles
–Long Beach
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