{"id":33821,"date":"2023-07-18T21:14:52","date_gmt":"2023-07-19T01:14:52","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=33821"},"modified":"2023-07-18T21:14:56","modified_gmt":"2023-07-19T01:14:56","slug":"lakeland-winter-haven-is-ranked-no-2-area-most-at-risk-for-home-price-decline-in-the-next-12-months","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2023\/07\/18\/lakeland-winter-haven-is-ranked-no-2-area-most-at-risk-for-home-price-decline-in-the-next-12-months\/","title":{"rendered":"Lakeland-Winter Haven is ranked No. 2 area most at risk for home price decline in the next 12 months"},"content":{"rendered":"\n

A new report<\/a> from CoreLogic ranks Lakeland-Winter Haven as the nation\u2019s second most likely metropolitan area to experience a home price decline in the next 12 months.<\/p>\n\n\n

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\u201cHome prices are a little overvalued,\u201d said Dr. Selma Hepp, chief economist at CoreLogic, a California-based residential property data and solutions company.<\/p>\n\n\n\n

The report took into account factors including unemployment, income growth and delayed mortgage payments.<\/p>\n\n\n\n

 \u201cWe also look at home price appreciation up until this point which in your area has been 70% since the onset of the pandemic. So that\u2019s almost twice as much that we saw nationally,\u201d said Dr. Hepp.<\/p>\n\n\n\n

Taken together, Dr. Hepp said that is how CoreLogic found Lakeland to have a higher than 70% probability, a \u201cvery high risk\u201d of home price decline.<\/p>\n\n\n\n

The North Port-Sarasota-Bradenton area ranked third. Four of the five areas were in Florida.<\/p>\n\n\n\n

\u201cIt\u2019s really about affordability from local residents when it comes to purchasing homes in an area,\u201d said Dr. Hepp.<\/p>\n\n\n\n

\u201cI definitely disagree. There will not be a steep decline next year,\u201d said Chris McLaughlin, who owns KW McLaughlin Group, a Keller Williams realty team with offices in Lakeland, Winter Haven and Tampa.<\/p>\n\n\n\n

McLaughlin says demand remains higher than supply in Lakeland\u2019s growing community and homes are more affordable than surrounding areas.<\/p>\n\n\n\n

\u201cLakeland is right between Tampa and Orlando. We\u2019re in Florida. We\u2019re in a booming economy. We have low unemployment and those are the factors that are gonna move a price up or down,\u201d said McLaughlin.<\/p>\n\n\n\n

According to McLaughlin, there are 619 homes available on the market in Lakeland, with 1.6 months\u2019 worth of inventory.<\/p>\n\n\n\n

\u201cThat\u2019s still very much a seller\u2019s market,\u201d said McLaughlin.<\/p>\n\n\n\n

Dr. Hepp with CoreLogic pointed out there are 43 other metropolitan areas in the nation with similar risk levels as Lakeland and North Port.<\/p>\n\n\n\n

You can read CoreLogic\u2019s report on its website.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report from CoreLogic ranks Lakeland-Winter Haven as the nation\u2019s second most likely metropolitan area to experience a home price decline in the next 12 months. \u201cHome prices are a little overvalued,\u201d… <\/p>\n","protected":false},"author":2,"featured_media":33822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[9],"tags":[5478],"class_list":["post-33821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-lakeland-winter-haven-is-ranked-no-2-area-most-at-risk-for-home-price-decline-in-the-next-12-months"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/33821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=33821"}],"version-history":[{"count":0,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/33821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/33822"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=33821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=33821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=33821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}