A closer look at home price corrections in second-home housing markets Naples and Sevierville
Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Back in August 2023, I stated that two metro area housing markets I was watching closely—and believed still faced heightened downside risk despite eking out some gains in 2023—were Sevierville, TN (where, in July 2023, home prices were still +70% above December 2019 levels) and…
In August 2023, two metropolitan housing markets, Sevierville, TN and Naples, FL, were noted to still have upside potential despite some gains in 2023. Sevierville, TN, had home prices 70% above December 2019 levels while Naples, FL, had prices 72% above that same benchmark. Unlike other markets like Austin, Boise, Punta Gorda, and Cape Coral, which had already entered a correction phase, Sevierville and Naples had not yet seen significant price declines.
However, by summer 2026, fundamental analysis suggested that both markets had indeed experienced price corrections, improving underlying fundamentals.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
