Recent Cooldown Impacting Overheated Urban Markets

Urban markets have been impacted most by the recent housing market slowdown, according to a new study of exurban, suburban, and urban market trends in the 100 biggest U.S. metros.

Price corrections, growing days on market, and the national market's first, and now most listing inventory growth have all come to urban areas during the latest housing cooldown. Even though price appreciation is still highest in urban areas, households are migrating to suburban areas for greater affordability, which also offer walkability, according to Realtor.com's report.

This analysis used the largest 100 metros by population size, but excluded the rankings of Denver, CO; Atlanta, GA; Jackson, MS; due to inconsistent data. Urban, suburban and exurban areas were classified at the ZIP code level, based on each ZIP code household density relative to other ZIP codes in that metro. The classifications are visualized below.

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