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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. National home prices rose +0.5% year-over-year between May 2024 and May 2025, according to the Zillow Home Value Index reading published last weeka decelerated rate from the +3.9% year-over-year rate between May 2023 and May 2024. And more metro area housing markets are seeing declines. > 31 of the nations 300 largest housing markets (i.e., 10% of markets) had a falling year-over-year reading in the January 2024 to January 2025 window. > 42 of the nations 300 largest housing markets (i.e., 14% of markets) had a falling year-over-year reading in the February 2024 to February 2025 window. > 60 of the nations 300 largest housing markets (i.e., 20% of markets) had a falling year-over-year reading in the March 2024 to March 2025 window. > 80 of the nations 300 largest housing markets (i.e., 27% of markets) had a falling year-over-year reading in the April 2024 to April 2025 window. > 96 of the nations 300 largest housing markets (i.e., 32% of markets) had a falling year-over-year reading in the May 2024 to May 2025 window. While 32% of the 300 largest housing markets are currently experiencing year-over-year home price declines, that share is gradually increasing as the supply-demand balance continues to shift directionally toward buyers in this affordability-constrained and post-housing boom environment. Home prices are still climbing in many regions where active inventory remains well below pre-pandemic 2019 levels, such as pockets of the Northeast and Midwest. In contrast, some pockets in states like Arizona, Texas, Florida, Colorado, and Louisianawhere active inventory exceeds pre-pandemic 2019 levelsare seeing modest home price corrections. Year-over-year home value declines, using the Zillow Home Value Index, are evident in major metros such as Austin (-5.5%); Tampa (-5.4%); Dallas (-3.4%); Phoenix (-3.4%); San Antonio (-3.3%); Orlando (-3.2%); Miami (-3.2%); Jacksonville, Florida (-3.0%); Atlanta (-2.7%); San Francisco (-2.5%); Denver (-2.4%); New Orleans (-2.3%); San Diego (-1.9%); Raleigh (-1.8%); Houston (-1.5%); Sacramento (-1.4%); Charlotte (-0.9%); Memphis (-0.9%); Riverside (-0.8%); Portland (-0.5%); Birmingham (-0.3%); and Seattle (-0.1%). Click here for an interactive version of the chart below !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 have gained the most leverage, are primarily located in Sun Belt regions, particularly the Gulf Coast and Mountain West. Many of these areas saw major price surges during the Pandemic Housing Boom, with home price growth outpacing local income levels. As pandemic-driven domestic 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. Given the shift in active housing inventory and months of supply, along with the soft level of appreciation in more markets this spring, ResiClub expects the number of metro areas with year-over-year home price declines in the Zillow Home Value Index to continue ticking up in the coming months. This softening and regional variation should not surprise ResiClub PRO membersweve been closely documenting it. ResiClub PRO members can view our latest analysis of home prices across +800 metros and +3,000 counties here.
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E-Commerce
Is it time to BeReal again? In 2022, the photo-sharing app surged in popularity, won Apples App of the Year, and even earned its own SNL skit. Once a day, at a random time, users were prompted to post a picture of whatever they were doing. With a 2-minute timer and one shot to make it count, the apps premise was to capture real moments in real time. But like most viral sensations, the novelty wore off. Downloads dropped, usage stagnated, and in 2023, the app was sold to French gaming company Voodoo for 500 million. Now, BeReal wants a second chance. At Cannes Lions this year, Managing Director Ben Moore shared the companys comeback plan. We have people that are committed to building the next big thing with BeReal, Moore told Business Insider. We can make something that really answers the demands of Gen Z, who are sick and tired of the filters, of the lenses, of the social pressure of posting something thats not going to get them the level of views and likes they would want. Moore claims the app still has around 40 million active users, mainly in Japan, France, and the U.S. In 2023, worldwide downloads totaled an estimated 31.5 million, which dropped 60% year-over-year to 12.7 million in 2024. According to Sensor Tower, year-to-date downloads are down 50% compared to last year. For its relaunch, BeReal is trying to win back users by investing in advertising, primarily on other apps owned by Voodoo Games. The team is also hoping to generate buzz through micro ambassadors on college campuses and by sponsoring parties where entry requires downloading the app. They are giving the app a facelift too, with new features like nearby, which lets users discover others in their area, and suggestions for people who post similar kinds of pictures. We really want to bring back the social aspect of what social media was built for, Moore said. But BeReals magic wasnt in its features. It was in the cultural momenta collective pause from the algorithm for a fleeting sense of connection (even if it was just a selfie at your desk four days in a row). Can lightning strike twice?
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E-Commerce
Basketball fans will be keeping their eye on New York tonight for the first round of the 2025 NBA draft at Barclays Center, home of the Brooklyn Nets, with an 8 p.m. ET tip-off in Brooklyn. Round two takes place tomorrow, Thursday, June 26, at the same time and same place. There will be a total of 59 picks this year, and fans will be watching tonight to see if the Duke Blue Devils’ Cooper Flagg will be going to the Dallas Mavericks, who have the No. 1 pick in the NBA draft. The draft also has a number of excellent shooters, led by two freshmen: Tre Johnson of the Texas Longhorns and Duke’s Kon Knueppel. It also has some excellent “3 and D” prospects, or those who excel at both three-pointers and defense: Arizona Wildcats’ Carter Bryant, Saint Joseph’s Hawks’ Rasheer Fleming, and Washington State Cougars’ Cedric Coward. Here’s a look at the order of selections for tonight’s first round of the NBA draft. First Round Dallas Mavericks San Antonio Spurs Philadelphia 76ers Charlotte Hornets Utah Jazz Washington Wizards New Orleans Pelicans Brooklyn Nets Toronto Raptors Houston Rockets (Reportedly traded to Phoenix) Portland Trail Blazers Chicago Bulls Atlanta Hawks San Antonio Oklahoma City Thunder Memphis Grizzlies Minnesota Timberwolves Washington Brooklyn Miami Heat Utah Atlanta (Reportedly traded to Brooklyn) New Orleans Oklahoma City Orlando Magic Brooklyn Brooklyn Boston Celtics Phoenix Suns Los Angeles Clippers NBA Draft 2025: Why only 59 picks? Instead of the usual 60 picks, this year there are only 59. Why? Blame it on the New York Knicks, who were denied their second-round pick as a result of talking to Jalen Brunson before free agency discussions were allowed in 2022, The New York Times reported. (Brunson went on become the Knicks’ best player, averaging 26 points and 7.3 assists per game, according to ESPN.) How can I watch or stream the NBA Draft live? In the United States, the NBA draft 2025 will air live on ABC and ESPN. ABC is available for traditional cable viewers and free with an over-the-air antenna. Cable subscribers can also watch ABC live through the ABC website and via its mobile apps. Cord-cutters also have the option to stream ABC on a live-TV streaming service that offers the network as part of a bundle, including Fubo, YouTube TV, or Hulu + Live TV. The 2025 NBA draft can also be accessed on SiriusXM, ESPN Radio, ESPN Deportes, and the ESPN app.
Category:
E-Commerce
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