May 2025 · Markets · 3 min read · by Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®
Years of aggressive building in Texas, Florida, and the Mountain West are finally catching up to demand — and prices are feeling it.
The Sun Belt’s superpower was always supply: unlike the coasts, it builds. In 2025 that strength became a swing factor.
After a multi-year construction surge, for-sale inventory in many Texas, Florida, and Arizona metros has climbed back toward — or past — pre-pandemic levels. More homes, more choice, less urgency.
Where supply rebuilt fastest, price growth has stalled or reversed, and the share of listings with price cuts has risen. It’s the textbook result: add inventory to cooling demand and sellers lose leverage.
This is the same story as the migration map, viewed from the supply side. The metros that absorbed the most newcomers also permitted the most homes — and that responsiveness is now capping their prices, for better or worse.
Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®, serving Milwaukee and Southeast Wisconsin (Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha, and Walworth counties). Email: [email protected] · Phone: (618) 713-2964.
More Milwaukee housing market insights · Free home valuation
Home values and rents are Zillow ZHVI/ZORI estimates for the named area, as of 2026-07-03; incomes and population are U.S. Census (SAIPE, Population Estimates); migration is IRS Statistics of Income. Area-level statistical estimates for information only — not an appraisal, and not financial, legal, or tax advice.