Every quarter we scan our Hot Market Finder and State Radar tools to see which markets are rising or falling the most.
This ‘Big Mover’ list often foretells major market changes.
Here’s what it looked like for the STATE level:
We compare the current Master Score “percentile” to the prior year score. Any market that rose OR fell more than 25 points gets added to the Watch List and investigated further.
Isolating the Big Movers helps you identify future geographic or regional trends, and early emerging (or falling) local markets.
Some real estate markets rose up through the ranks exceptionally fast last quarter.
A few of the previous high-flyer markets are showing early signs of rolling over and running out of steam.
There are always rising and falling markets; that’s the way it always is.
Winners eventually become losers and vice versa.
(That’s why they’re called ‘cycles’.) 🙂
Remember, this is a MACRO view using the overall AVERAGE for each state.
Individual markets WITHIN THE SAME STATE can be red hot, or ice cold… don’t make local market decisions based on these state-wide averages.
What this DOES show is a continuing “Changing of the Guard” in terms of market leaders and losers.
Some markets are bouncing from very low levels and need to continue strengthening before they become attractive markets (overall). Likewise, because some of the high flyers have been so strong, even a brief, healthy ‘pause’ can knock them off their pedestal in terms of percentile rankings. It doesn’t mean there aren’t very strong, stable markets when you look inside those states!
This reshuffling will continue.