Housing Market Paradox: A Regional Divide
As home prices in the West Coast plunge, the East Coast surges.
According to Insider, the regional divide in the housing market is exemplified in this east-west split. According to data from Black Knight, home prices on the West Coast are plunging at the same time home prices on the East Coast are surging.
This phenomenon didn’t occur even during the 2008 global financial crisis. The differences have much to do with each region’s housing supplies, as well as tech layoffs in the West which may have weakened demand in major cities.