 |
|
|
|||||
Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. National home prices have risen by 1.2% year-over-year from March 2024 to March 2025, according to the Zillow Home Value Index, a decelerated rate from the 4.6% year-over-year rate last spring. However, not every housing market is seeing rising home prices. Among the nation’s 300 largest metro-area housing markets, 60 markets are seeing falling home prices on a year-over-year basis. Thats up from 42 markets in February and 31 markets in January. While home prices continue to rise in regions with tight inventorysuch as much of the Northeast and Midwestmany housing markets in states like Arizona, Texas, Florida, and Louisiana, where inventory has now surpassed pre-pandemic 2019 levels, are experiencing modest home price corrections, according to ResiClubs latest analysis. These year-over-year declines are evident in major metros such as Austin (-4.6%); Tampa (-4.5%); San Antonio (-2.7%); Phoenix (-2.5%); Dallas (-2.4%); Jacksonville, Florida (-2.3%); Orlando (-2.2%); New Orleans (-1.9%); Atlanta (-1.8%); and Miami (-1.5%). !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); The markets seeing the most softness, where homebuyers are gaining leverage, are primarily located in Sun Belt regions, particularly the Gulf Coast and Mountain West. These areas saw major price surges during the pandemic housing boom, with home price growth outpacing local income levels. As pandemic-driven migration slowed and mortgage rates rose, markets like Tampa and Austin faced challenges, relying on local income levels to support frothy home prices. This softening trend is further compounded by an abundance of new home supply in the Sun Belt. Builders are often willing to lower prices or offer affordability incentives to maintain sales, which also has a cooling effect on the resale market. Some buyers, who would have previously considered existing homes, are now opting for new homes with more favorable deals. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); Will this softening continue this year? It looks like it. A key indicator to watch will be active inventory levels. If weaker markets like Tampa continue to see substantial increases in active inventoryalready above pre-pandemic levelsit may signal ongoing softening, potentially creating more opportunities for homebuyers.
Category:
E-Commerce
Fast Company is the official media partner of Summit Detroit. Summit is an organization that hosts global ideas conferences and immersive experiences. And the programming is always grounded by six core pillars: thought leadership, health and happiness, performance arts, culinary arts, fine art, and impactall with the express intention to inspire deep attendee presence and build long-term connections both professionally and personally. Many of our Summit community members are building and running large high-profile companies, managing teams, and are surrounded by people and things to do. But our business leaders often feel incredibly lonely in their pursuits, says Jody Levy, CEO and global director of Summit. There’s an impact to a Summit gathering that invites commonality and allows these types of high-octane doers the chance to meet one another, relate to one another, and forge lifelong professional and personal friendships. This June 5-8, Summit lands in Detroit with an array of speakers, teachers, and artists who will bring their unique perspectives to Summits programming pillars. Thought leadership and impact Summit community members will be immersed in thoughtful discussions with prolific business and technology leaders including Ev Williams, co-founder of Twitter, Medium, and Mozi; Franz von Holzhausen, chief designer at Tesla; Dan Gilbert, founder and chairman of Rocket Companies; Tim Urban, cofounder of the podcast Wait But Why; futurist Pablos Holman; and many more. For those steeped in social justice, impact, and the humanities, Summit is curating a series of special sessions with influential leaders including Dr. Bernice A. King; Ashley Bell, founder and CEO of fintech platform Ready Life; and former NFL linebacker Dhani Jones discussing his investment in Holladay Bank & Trust, which will become the first Black-owned commercial bank through acquisition. Throughout Summits programming are sessions that pull from the past to help illustrate the future. For example, Eames Demetrios will take the stage to discuss the legacy of his grandparents, Charles and Ray Eameswidely considered among the most influential American designers of the 20th centuryand their longstanding connection to Detroit and their manufacturing innovations born out of wartime. There’s such a direct correlation to this moment that we are in, Levy says. Theres an opportunity to reinvent not just how we do things but the materials we use, the manufacturing methods we have access to, and how we will reinvent to sustain a complex manufacturing future. Health and happiness Summits lineup within its health and happiness pillar includes author and psychotherapist Lori Gottlieb; medical diagnostic entrepreneur and cofounder and CEO of Function Health, Jonathan Swerdlin; integrative medicine practitioner Dr. Linda Lancaster; and death expert Elena Brower. There will also be movement modalities and interactive workshops with Primal Moves from Ibiza, Spain; an African- and Caribbean-inspired dance workshop led by Stacy Letrice; and fitness and yoga sessions with acclaimed instructors including Melissa Levy, Jacey Cunningham, Kim Strother, and Ally Bogard. Performing and fine arts Underscoring Summits focus on fine art and the importance of live performance are immersive experiences including a conversation on the art of resilience from legendary choreographer and director Bill T. Jones; evening comedy sets from Ben Gleib (yes, he does roast the entrepreneurs, Levy promises); and live performances by The Wailers, Aluna, Coco & Breezy, LP Giobbi, Moodymann, and Tony Touch, as well as a popup experience with vinyl listening bar Dante’s HiFi. Culinary arts And it wouldnt be a Summit event without a culinary track, more specifically one that centers Detroits culinary renaissance. Featured this year are Javier Bardauil, chef and owner of Barda and Puma Detroit, specializing in Argentinian cuisine; Brad Greenhill, executive chef and co-owner of Takoi, a popular Thai-inspired eatery; Warda Bouguettaya, owner of the James Beard Award-winning bakery Warda Pâtisserie; Alexandra Clark, founder and head chocolatier of Bon Bon Bon Chocolate; and Hamisi Mamba and Nadia Nijimbere, owners of the East African restaurants Waka and Baobab Fare.Despite the structure of Summits programming pillars, Levy notes no one has to stick to one track or interest. A typical day at Summit can take on a variety of explorations. Our community doesn’t come to sit in a space and be a voyeur at a talk. Theyre in it, in flow, they get to participate, let their curiosity lead, and the true lessons and connections often happen in the in-betweens, before and after sessions, on walks to venues, meetups, mixers, in line for lattes, she says. We get to create an environment for our people to have the choose-your-own-adventure that makes each Summit so unique.Adding to what makes this Summit event distinctive is its host city of Detroit. Detroit, at this moment, in this time, is thriving, Levy says. There are so many people that have come in from around the world: artists, entrepreneurs, business leaders, founders, investors, chefs from all over the globe, musical talent, explorers. There is this thriving creator economy in Detroit that matches the curious and experimental spirit of Summit.Learn more about Summit and apply to attend Summit Detroit this June 5-8, 2025. Tickets start at $4,750.
Category:
E-Commerce
At a time when many fast-casual chains are struggling to get customers in the door, and rethinking their next moves both at home and internationally due to Trump’s trade wars, Chipotle Mexican Grill is expanding. The fast-casual restaurant announced on Monday that it signed a development agreement with Alsea to open its first location in Mexico early next year. Alsea operates the Latin American and European locations of a number of food and beverage chains, including Starbucks, Dominos Pizza, and Burger King, according to CNBC. Chipotle also indicated plans to explore additional expansion markets in the region, signaling further locations in Latin America. “We are confident that our responsibly sourced, classically cooked real food will resonate with guests in Mexico,” Nate Lawton, chief business development officer at Chipotle, said in a statement. “The country’s familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company.” The fast-casual chain, which currently operates more than 3,700 restaurants, also reiterated its plans to open between 315 and 345 new restaurants this year, with a long-term target of operating 7,000 locations in the U.S. and Canada. The popular chain opened 304 new restaurants in 2024, its most openings in a single year. (In 2023, it opened 271 locations, and in 2022, 200 restaurants.) And this is not Chipotle’s first foray beyond the U.S. borders. It operates 58 locations in Canada, 20 in the United Kingdom, six in France, and two in Germany. In 2023, it signed its first international development agreement with Alshaya Group to open restaurants in the Middle East; as a result, it now operates three restaurants in Kuwait and two in the United Arab Emirates. Last year, many beloved U.S. fast-casual and restaurant chains struggled to stay afloat, while many others shut down or filed for bankruptcy. The majority of Wahlburgers locations shut down in January, and fast-casual chain Roti has filed for Chapter 11 bankruptcy protection, as have both Red Lobster and Buca di Beppo.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||