Who’s Winning on Price and Volume?

Dennis Lee
Jun 10
2 min read

by Dennis Lee, CEO at Market Stadium

What happens when price, demand, and rent all move at once?

We analyzed 50 of the largest U.S. metropolitan areas using year-over-year percentage changes across three key housing market indicators.

All values represent % changes from April 2024 to April 2025:

X-axis: 🏠 Sales Price Growth (All Housing)
Y-axis: 🔄 Sold Unit Growth (All Housing)
Bubble Size: 💸 Housing Median Rent Growth (All Housing)

Each metro is plotted into one of four strategic quadrants based on the relationship between pricing power, demand, and rent dynamics.

Quadrant Summary: Price vs. Sales Activity

Q1 – Price Up, Sales Up

Markets firing on all cylinders.

Charlotte, Phoenix, Memphis, Oklahoma City, Nashville
→ Strong demand meets confident pricing. Developers and sellers are both winning. Solid growth signals across the board.

Q2 – Price Down, Sales Up

Active markets with soft pricing.

Atlanta, Jacksonville, Miami, Dallas, Riverside
→ Buyers are still transacting, but pricing is lagging. Could present near-term entry points or signal caution on fundamentals.

Q3 – Price Down, Sales Down

Cooling or stalled markets.

Austin, Boston, Buffalo, Salt Lake City, Houston
→ Both prices and transactions are dropping. Possibly mid-cycle corrections or overbuilt inventory adjusting. Risk-averse investors may wait.

Q4 – High Plan, Low Completion

Tight supply pushing prices higher.

New York, Los Angeles, Chicago, Washington DC, Minneapolis
→ Pricing is rising—but fewer deals are happening. May reflect luxury demand, lack of inventory, or early signs of affordability barriers.

Investor Takeaway

This isn’t just a snapshot — it’s a signal.

✅ Looking for sustained growth and velocity? Start with Q1

✅ Seeking value or opportunistic entry? Explore Q2

✅ Waiting for re-entry or discount pricing? Monitor Q3

✅ Targeting premium supply gaps? Q4 offers upside — with risk.

Food for Thought

Real estate isn’t just about price—it’s about pace. Markets with alignment across price, sales, and rent tend to lead the next growth wave. And sometimes, what’s stalling today may be surging tomorrow. Timing, as always, is everything.

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