Various states are seeing a cool off. TX is one of the top states seeing a large drop. My opinion based on watching the housing market regularly for the last three years is some hot states like TX, FL, AZ will see a larger cooling period as they were over saturated with influx of people moving in from out of state and it hyper inflated sales prices for current home and new builds.
Meanwhile the state I’m in MD has only seen a 2% drop in new home sales and many contractors are still booked into 2023 already. Prices are holding steady even if the buyer pool is downsizing there is still a large volume of people to purchase and not enough influx of new homes to put pace the demand.
I’m personally hoping to see it cool a bit so materials pricing drops as I’m a couple weeks away from having a build permit and dealing with a custom builder so no locked in pricing lol
Meanwhile the state I’m in MD has only seen a 2% drop in new home sales and many contractors are still booked into 2023 already. Prices are holding steady even if the buyer pool is downsizing there is still a large volume of people to purchase and not enough influx of new homes to put pace the demand.
I’m personally hoping to see it cool a bit so materials pricing drops as I’m a couple weeks away from having a build permit and dealing with a custom builder so no locked in pricing lol