Bubble Bursts Must Start Somewhere
A report from US News and World Report. "The tables have turned across the U.S. as the real estate market has shifted from a seller’s to a buyer’s market, which means that more homes are for sale than there are…
Sellers Have Endured Lengthy Waits For Buyers, And Have To Lower Their Asking Price Or Offer Concessions
A report from CNBC on New York. "Manhattan real estate had its worst first quarter since the financial crisis, capping the longest losing streak for sales in over 30 years, according to a new report. The drop stems from an…
Inventory Is Piling Up, Discounts Are Widespread, And Investors Are Ducking And Covering
A report from CNBC. "A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages. Appraisals have been an issue in the housing market for buyers and refinancers. Home prices inflated so quickly…
People Know That The Seven-Year Run Isn’t Going To Be Here Forever
A report from KTVQ in Montana. "The trend continues as it’s more expensive than ever to buy a home in Missoula. Earned income is also up, but housing experts say it’s not catching up fast enough. Brint Wahlberg with the Missoula Organization…
Excess Being Shed After Years Of Price Increases Resulted In Bulged Valuations
A report from Canadian Mortgage Trends. "New data shows that home sales and prices continue to fall in Toronto and Vancouver, with the exception of Toronto condo sales, which have reached a new high. Vancouver condo prices posted their largest…
Price Declines Likely Reflect A Slower Market And A Rise In Buyers’ Negotiating Power
A report from the Los Angeles Times in California. "Here’s a look at what roughly $750,000 buys right now in the L.A. neighborhoods of Lincoln Heights, Granada Hills and Hollywood Hills. In the 90046 ZIP Code, based on 12 sales,…
We Truly Had An Incredible Price Correction
A report from the Post and Courier in South Carolina. "Construction cranes dot the Charleston skyline for new apartment buildings while other complexes rise in the suburbs, and supply is now outpacing demand in the region. The glut of new…
Winter Isn’t Coming, Winter Is Here
A report from the Herald Sun in Australia. "Melbourne’s mansions are bearing the brunt of the property market correction. Sales among the city’s most elite addresses — the top end of Toorak — have come to an 'absolute stop,' according…
We’ve Done Nothing But Drop It And Still, Nobody Even Offers
A report from CBC News in Canada. "Chris Drinkwalter's newly-renovated condo in southeast Edmonton has been on the market for more than seven months without a single offer. The two-bedroom, two-bathroom property in the Silver Berry neighbourhood, constructed in 2007,…
We’ve Got Plenty Of Vacant Land
A report from Globe St. "Economic sentiment is shifting. This year, more and more real estate professionals are predicting a recession in the next 12 months, either in late 2019 or early 2020. Christopher Thornberg of Beacon Economics, however, says…