Currently Reading

Coastal Cities May Be Losing Their Charm

Market Data + Trends

Coastal Cities May Be Losing Their Charm

January 5, 2021
Miami, Florida
Photo: SeanPavonePhoto

Homebuyers are becoming less impressed by the low inventory and high prices of coastal cities and finding comfort in America’s Heartland. Cleveland, Cincinnati, Indianapolis, and Memphis are just some of the metros that CNBC says have been experiencing the strongest price gains in the nation. There are also some cities seeing large price increases as a result of high demand outside the Midwest as well, such as Pittsburgh, Boise, and Austin, TX. Prices in these cities are at a minimum 10% higher compared to the previous year. S&P Dow Jones Indices’ managing director says all its data points toward Americans relocating from more densely populated areas, such as coastal cities, and headed toward the suburbs.

These have all been historically more affordable markets, and markets that generally have more inventory of homes available for sale. That makes the suddenly strong price growth in the middle of the country that much more striking.

Much of it is likely to do with the new ability to work from anywhere due to the coronavirus. People are leaving larger more expensive metropolitan markets and heading to less expensive markets where they can get more space and land for their money.

Read More


Related Stories

Market Data + Trends

Latest RCLCO Survey Finds Record-Low Sentiment Toward Real Estate

RCLCO’s end-of-year Sentiment Survey found real estate participants are significantly more negative about the housing market compared to 2019. The…

Market Data + Trends

Urban Refugees Embrace New Bucolic Lifestyles

Besides trading in their city lifestyles and luxurious penthouses, urban refugees are trading in their suits and Range Rovers for bicycles and…

Housing Markets

Experts Say This City Will Be the Nation's Hottest Market

Economists, investment strategists, and real estate experts predict 2021 to be the year of the Sun Belt cities. Phoenix, Nashville, Tampa, Denver…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.