A report from CNBC. "Diana Olick: Mortgage rates moved higher again last week, pushing buyers…
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From the first 11:34 video:
Dallas-Fort Worth Housing Market Stalls OutAug 18, 2022 To kick off this housing market update, I can sum up whatâs going on in one word. We are still in a⌠PAUSE. The market is shifting, and it is shifting hard.
Weâre seeing a lot of price reductions, and we have much more of that to go before we really get past this pause we are in right now.
If you can remember from the last market update, the pause is what occurs when we are waiting for the sellersâ and buyersâ expectations to come together.
Right now, the seller is still up here, expecting 30 percent year over year price appreciation growth. And then you have the buyer down there, saying, âNo more, seller. My borrowing cost has doubled basically, and youâre going to have to come down on that price before we come together and start transacting business as normal.â
So thatâs whatâs going on in the market in general right now. Weâre feeling the pressure of the high interest rates.
The second 8:44 video:
Boise Housing Prices Drop AGAIN
Aug 18, 2022 Boise housing prices drop again. Watch this video to find out everything you need to know about what is happening in the Boise Housing market so you have the best information to make decisions for yourself.
The third 2 minute video:
Is the housing market cooling down in NC?
Aug 17, 2022
The fourth 3 minute video:
Orlando Real Estate Market Update August 2022
Aug 18, 2022 My August video report highlights the Orlando Real Estate Market for the month of July 2022 where we saw inventory jumping up, and median home prices drop. Looks like market conditions in the Orlando Florida area are changing.
Here in Orlando, we have now seen housing inventory increases for three consecutive months. Finally, buyers have more houses to look at. But donât worry sellers, prices arenât dropping much. However, our Orlando market is continuing to cool off from is red hot pace and is starting to become a more balanced market.
The fifth 13 minute video:
ALERT! đ¨đ˘ MAJOR Price Drops | Miami Real Estate | Aug. 2022
Premiered Aug 17, 2022 The Miami real estate market has seen some HUGE changes since our last update a couple of weeks ago. Median sales prices are down, new listings are down, sales are way down, and inventory is considerably higher in every housing category.
The sixth 12 minute video:
Want to Snatch a DEAL for Toronto Condos Right Now? WATCH THIS!
Aug 18, 2022
The seventh 7 minute video:
Sell My House in Georgia? Seller FOMO is Now Real!
Aug 18, 2022 Should I sell my house in Georgia? Well, several of my past clients this year who bought a few years ago have now decided to sell their home to cash out their equity this year. But have some of them waited too long? Let’s find out!
Just 6 months ago, the housing market in Georgia was on fire. On homes that sold, we were experiencing multiple offers over asking price of $50K to $75K with no financing or appraisal contingencies with 2% earnest money and sometimes even no due diligence period (inspection)!
Fast forward to a few months later to now, and we are seeing a market shift right before our eyes that is night and day difference from earlier this year! Now, inventory is increasing, homes are staying on the market longer, more price reductions are happening, and seller concessions are more abundant.
The last 16 minute video:
How Much Lower Will Home Prices Fall In Vaughan, Richmond Hill & Markham?
Team Sessa Real Estate
Aug 18, 2022 Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of Aug 4 – Aug 10, 2022.
‘Prices fall for the first time in a decade
The typical U.S. home value now stands at $357,107 after declining by 0.1% ($366) month over month in July, as measured by the raw Zillow Home Value Index (ZHVI). A more responsive, but also more volatile flavor of Zillow’s headline price index â monthly growth in the raw ZHVI â has relaxed since reaching a recent peak in April of 1.9% (a rate that would annualize to a whopping 25.1%), slowing to 1.2% growth (15.3% annualized) in May and 0.8% growth (9.7% annualized) in June.’
‘Home values measured by raw ZHVI fell from June to July in 30 of the 50 largest metro areas, an increase from 13 metros the previous month. The largest monthly home value declines were in San Jose (-4.5%) and San Francisco (-2.8%, that’s -28.7% anualized) – the nation’s most expensive major markets – followed by Phoenix (-2.8%) and Austin (-2.7%), which saw the most extreme growth over the pandemic.’
âExisting home sales have not plummeted this fast since 2007, when the housing bubble burst. The Fed has housing in its sights, and homeowners are wondering if they are going to be sacrificed as well, as they nervously check the internet for signs the value of their home-sweet-home is going down,â said Chris Rupkey, chief economist at FWDBONDS.’
Vice President of Lending for Team Hochberg at Homeside Financial and host of WGNâs âHome Sweet Home Chicagoâ David Hochberg joins Bob Sirott to talk about foreclosure activity and why the buyer has the power in the housing market.
‘Pacific Capital Retail has given up on Paseo Nuevo and the former Macy’s Building. The company handed back leases to its lenders in lieu of foreclosure, according to Santa Barbara County Public records.’
‘The company had fallen significantly behind on loan payments, and rather than face foreclosure, gave the leases to its lendor, said Sarah Knecht, assistant city attorney.’
‘In the first major on-air personnel move under CNN chief Chris Licht, the network is parting ways with senior media correspondent Brian Stelter and canceling his Sunday program âReliable Sources.â
‘Stelter confirmed his departure in a statement to the Times. âIâm grateful for my nine years with CNN, proud of what we accomplished on âReliable Sources,â and so thankful for the viewers who tuned in every week for our examination of the media, truth and the stories that shape our world,â he said. âIt was a rare privilege to lead a weekly show focused on the press at a time when it has never been more consequential.â
‘Stelter is scheduled to do his final broadcast on Sunday.’
From the first 11:34 video:
Dallas-Fort Worth Housing Market Stalls OutAug 18, 2022 To kick off this housing market update, I can sum up whatâs going on in one word. We are still in a⌠PAUSE. The market is shifting, and it is shifting hard.
Weâre seeing a lot of price reductions, and we have much more of that to go before we really get past this pause we are in right now.
If you can remember from the last market update, the pause is what occurs when we are waiting for the sellersâ and buyersâ expectations to come together.
Right now, the seller is still up here, expecting 30 percent year over year price appreciation growth. And then you have the buyer down there, saying, âNo more, seller. My borrowing cost has doubled basically, and youâre going to have to come down on that price before we come together and start transacting business as normal.â
So thatâs whatâs going on in the market in general right now. Weâre feeling the pressure of the high interest rates.
The second 8:44 video:
Boise Housing Prices Drop AGAIN
Aug 18, 2022 Boise housing prices drop again. Watch this video to find out everything you need to know about what is happening in the Boise Housing market so you have the best information to make decisions for yourself.
The third 2 minute video:
Is the housing market cooling down in NC?
Aug 17, 2022
The fourth 3 minute video:
Orlando Real Estate Market Update August 2022
Aug 18, 2022 My August video report highlights the Orlando Real Estate Market for the month of July 2022 where we saw inventory jumping up, and median home prices drop. Looks like market conditions in the Orlando Florida area are changing.
Here in Orlando, we have now seen housing inventory increases for three consecutive months. Finally, buyers have more houses to look at. But donât worry sellers, prices arenât dropping much. However, our Orlando market is continuing to cool off from is red hot pace and is starting to become a more balanced market.
The fifth 13 minute video:
ALERT! đ¨đ˘ MAJOR Price Drops | Miami Real Estate | Aug. 2022
Premiered Aug 17, 2022 The Miami real estate market has seen some HUGE changes since our last update a couple of weeks ago. Median sales prices are down, new listings are down, sales are way down, and inventory is considerably higher in every housing category.
The sixth 12 minute video:
Want to Snatch a DEAL for Toronto Condos Right Now? WATCH THIS!
Aug 18, 2022
The seventh 7 minute video:
Sell My House in Georgia? Seller FOMO is Now Real!
Aug 18, 2022 Should I sell my house in Georgia? Well, several of my past clients this year who bought a few years ago have now decided to sell their home to cash out their equity this year. But have some of them waited too long? Let’s find out!
Just 6 months ago, the housing market in Georgia was on fire. On homes that sold, we were experiencing multiple offers over asking price of $50K to $75K with no financing or appraisal contingencies with 2% earnest money and sometimes even no due diligence period (inspection)!
Fast forward to a few months later to now, and we are seeing a market shift right before our eyes that is night and day difference from earlier this year! Now, inventory is increasing, homes are staying on the market longer, more price reductions are happening, and seller concessions are more abundant.
The last 16 minute video:
How Much Lower Will Home Prices Fall In Vaughan, Richmond Hill & Markham?
Team Sessa Real Estate
Aug 18, 2022 Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of Aug 4 – Aug 10, 2022.
‘Prices fall for the first time in a decade
The typical U.S. home value now stands at $357,107 after declining by 0.1% ($366) month over month in July, as measured by the raw Zillow Home Value Index (ZHVI). A more responsive, but also more volatile flavor of Zillow’s headline price index â monthly growth in the raw ZHVI â has relaxed since reaching a recent peak in April of 1.9% (a rate that would annualize to a whopping 25.1%), slowing to 1.2% growth (15.3% annualized) in May and 0.8% growth (9.7% annualized) in June.’
‘Home values measured by raw ZHVI fell from June to July in 30 of the 50 largest metro areas, an increase from 13 metros the previous month. The largest monthly home value declines were in San Jose (-4.5%) and San Francisco (-2.8%, that’s -28.7% anualized) – the nation’s most expensive major markets – followed by Phoenix (-2.8%) and Austin (-2.7%), which saw the most extreme growth over the pandemic.’
https://finance.yahoo.com/news/buyers-gaining-time-options-housing-100032720.html
âExisting home sales have not plummeted this fast since 2007, when the housing bubble burst. The Fed has housing in its sights, and homeowners are wondering if they are going to be sacrificed as well, as they nervously check the internet for signs the value of their home-sweet-home is going down,â said Chris Rupkey, chief economist at FWDBONDS.’
https://www.msn.com/en-us/money/realestate/existing-home-sales-plunge-to-lowest-level-in-more-than-two-years/ar-AA10NUWv
Here’s a 6 minute audio:
Vice President of Lending for Team Hochberg at Homeside Financial and host of WGNâs âHome Sweet Home Chicagoâ David Hochberg joins Bob Sirott to talk about foreclosure activity and why the buyer has the power in the housing market.
https://wgnradio.com/bob-sirott/houses-are-on-the-market-longer-heres-why/
‘Pacific Capital Retail has given up on Paseo Nuevo and the former Macy’s Building. The company handed back leases to its lenders in lieu of foreclosure, according to Santa Barbara County Public records.’
‘The company had fallen significantly behind on loan payments, and rather than face foreclosure, gave the leases to its lendor, said Sarah Knecht, assistant city attorney.’
https://www.noozhawk.com/article/future_downtown_santa_barbara_paseo_nuevo_in_question
‘In the first major on-air personnel move under CNN chief Chris Licht, the network is parting ways with senior media correspondent Brian Stelter and canceling his Sunday program âReliable Sources.â
‘Stelter confirmed his departure in a statement to the Times. âIâm grateful for my nine years with CNN, proud of what we accomplished on âReliable Sources,â and so thankful for the viewers who tuned in every week for our examination of the media, truth and the stories that shape our world,â he said. âIt was a rare privilege to lead a weekly show focused on the press at a time when it has never been more consequential.â
‘Stelter is scheduled to do his final broadcast on Sunday.’
https://www.latimes.com/entertainment-arts/business/story/2022-08-18/cnn-cancels-media-watchdog-show-reliable-sources
San Francisco, CA Housing Prices Crater 31% YOY As US Housing Market Mudslides Into Abyss
https://www.movoto.com/ca/94109/market-trends/
As one Bay area broker explained, “Our regional forecast projects a 55%-75% price decline from these levels. We’re well on our way.”