Homes in these former US boomtowns are now easier to own

New York Post - Apr 9th, 2025
Open on New York Post

Several southern US cities, such as Miami, Jacksonville, Tampa, New Orleans, and Memphis, have become buyer's markets due to an oversupply of housing stock and subsequent price reductions. Despite the traditionally busy spring real estate season, these cities are experiencing long listing durations and significant price cuts, with homes in Miami staying on the market for a median of 60 days and a quarter of listings receiving price reductions. The pandemic initially boosted demand in Florida cities, but the current surplus gives buyers more leverage.

This shift in the housing market is significant, as it reflects broader economic trends and challenges, such as high mortgage rates and potential buyers reassessing the drawbacks of living in these areas. Issues like severe weather, flooding, crime, and poverty are influencing potential buyers' decisions. With populations declining in cities like Memphis and New Orleans, and home inventory significantly increased, the real estate landscape in these southern metros is adjusting, offering potential buyers more opportunities to negotiate favorable terms.

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RATING

5.6
Moderately Fair
Read with skepticism

The article provides a timely and relevant overview of real estate trends in southern US cities, focusing on the opportunities for buyers due to surplus housing stock and price reductions. It effectively uses data from Zillow to support some claims, enhancing its credibility. However, the article could benefit from a broader range of sources and more in-depth analysis of the challenges facing these markets, such as severe weather and crime.

While the article is clear and accessible, it lacks transparency in its methodology and does not fully explore the perspectives of sellers or the potential risks for buyers. By incorporating more diverse viewpoints and providing additional context, the article could offer a more balanced and comprehensive view of the real estate market dynamics. Overall, the article is informative and engaging but could be strengthened by addressing these areas for improvement.

RATING DETAILS

6
Accuracy

The article provides several specific claims about the real estate market in southern US cities, such as Miami, Jackson, Tampa, New Orleans, and Memphis. It claims these cities have become more favorable for buyers due to surplus housing stock and sluggish listings. While the article cites Zillow for some data points, such as Miami homes staying on the market for a median of 60 days and a quarter of listings experiencing price reductions, it lacks comprehensive sourcing for all claims.

The mention of population declines in Memphis and New Orleans and the affordability of buying versus renting in Memphis are significant claims that require further data verification. The article also attributes sluggish market uptake to issues like severe weather and crime, which are not substantiated with specific data or expert opinions. Overall, while some claims are supported by Zillow data, others need additional verification to ensure accuracy.

5
Balance

The article primarily focuses on the advantages for buyers in southern US cities, highlighting the surplus housing stock and price reductions. However, it does not equally explore the perspectives of sellers or potential challenges buyers might face, such as economic conditions or local market volatility.

While it briefly mentions issues like severe weather, flooding, crime, and poverty, these are not explored in depth, which could provide a more balanced view of the real estate market's challenges. The article could benefit from a broader range of viewpoints, including insights from local real estate experts or economic analysts, to provide a more comprehensive picture of the market dynamics.

7
Clarity

The article is generally clear and easy to follow, with a logical structure that outlines the main points about the real estate market in southern US cities. The language is straightforward, making it accessible to a general audience interested in real estate trends.

However, some sections could benefit from additional context or explanations, particularly when discussing the challenges facing these cities, such as severe weather and crime. Providing more detailed information or examples would enhance the reader's understanding of these issues and their impact on the housing market.

6
Source quality

The article references Zillow as a source for some of its data, which is a credible and widely recognized authority in real estate market analysis. However, the article lacks a variety of sources that could provide additional context and depth to the claims made.

There is a reliance on data from a single source without corroborating information from other reputable sources, such as local real estate boards or economic reports. The inclusion of more diverse and authoritative sources would enhance the credibility and reliability of the information presented.

4
Transparency

The article does not provide detailed information about the methodology used to gather the data or how the conclusions were reached. While Zillow is mentioned as a source, the article does not explain how the data was collected or analyzed to support the claims made.

There is a lack of transparency regarding the criteria used by Zillow to determine the "best metro areas for buyers" list. Additionally, the article does not disclose any potential conflicts of interest or biases that could affect the impartiality of the reporting. Greater transparency in these areas would improve the article's trustworthiness.

Sources

  1. https://www.housingwire.com/articles/the-southern-housing-markets-poised-to-become-boomtowns/
  2. http://acecomments.mu.nu/?post=386703%2F
  3. https://www.nar.realtor/newsroom/national-association-of-realtors-unveils-10-top-housing-hot-spots-for-2025
  4. https://realwealth.com/learn/housing-market-predictions/
  5. https://www.realtor.com/research/top-housing-markets-2025/