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Southerly Shift: Half of U.S. Housing Inventory Now Concentrated in the South

The American dream of homeownership is becoming increasingly regional, with a new study by Realtor.com revealing a surprising concentration of available housing. According to the report, nearly 57% of the nation’s housing inventory is now located in the South.

This trend is driven by a surge in new construction, with the South experiencing a 19.7% year-over-year increase in available homes. This dwarfs the growth rates seen in other regions, with the Northeast adding only 2.5% and the West coming in at 7.5%.

The South’s appeal isn’t just in abundance – it’s affordability too. The study highlights a significant rise in new homes priced between $250,000 and $300,000, outpacing all other price brackets in the region. This affordability is music to the ears of many priced out of markets on the West Coast and Northeast, leading to a southward migration of homebuyers.

While the South reigns supreme in overall inventory, the report also pinpoints specific areas within the region experiencing the most construction. Central and Northern Florida are seeing a building boom, attracting developers with their potential for growth.

This geographic concentration of housing presents both opportunities and challenges. For those seeking affordability and a fresh start, the South offers a wealth of options. However, it also raises concerns about regional imbalances and the potential for housing shortages in other parts of the country.

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