What We Are Witnessing, We Will All Look Back At And Realize, Was The Slow Leak Of A Once Over-Inflated Real Estate Market Balloon
A report from the Times Leader in Pennsylvania. "'Home values in the region saw more growth from 2020 to 2021 than the entire previous decade,' said Jill Avery-Stoss, Director of Operations at The Institute for Public Policy and Economic Development.…
The Whole Pyramid Is Collapsing Now
It's Friday desk clearing time for this blogger. "The Federal Reserve’s war on inflation and higher mortgage interest rates have hit Utah’s Wasatch Front housing market — hard. 'Like a wall,' said Steve Perry, CEO of the Salt Lake Board…
The Market’s Sugar High Is Over
A report from USA Today. "Membership in the National Association of Realtors grew from 1.48 million at the end of 2020 to 1.56 million at the end of 2021. Kalyani Dere, a former data analytics professional, entered the field of…
Eye-Popping Price Increases And Bidding Wars Suddenly Seemed To Be A Thing Of The Past
A report from the Review Journal. "LVR reported the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service during June was $480,000. That was down from the all-time record price of $482,000 in May,…
They’re Sitting On The Market For A Few Weeks To A Few Months And People Are Not Touching It
A report from the Phoenix Business Journal in Arizona. "As the Valley's housing market continues to cool, home sellers are cutting list prices while various incentives are emerging — signs that the housing market is finally on its way to…
A Wintry Summer Is Brewing While Sellers Clamber For Yesterday’s Prices
A report from the San Francisco Chronicle in California. "Redfin agent Andrea Chopp said while so many buyers have been priced out of the market, she thinks it’s actually a great time to buy — if you can afford it.…
A Glut Of Listings Are Being Met With Less Fervent Demand
A report from Market Place. "Lately, Redfin Chief Economist Daryl Fairweather has been using the term 'hibernation' to describe this changing housing market. 'Just in terms of, like, how little activity is happening right now for both buyers and sellers,'…
There’s Panic In The Air
A report from Bloomberg. "Cryptocurrencies plummeted so violently that a popular lending platform froze withdrawals to prevent a very modern kind of bank run. It was enough, for some, to resurface scary memories of the global financial crisis more than…
Sellers Are Having To Appreciate That The Joyride Is Over
A report from the Seattle Business Journal in Washington. "The median sale price of single-family homes in Seattle fell nearly 12% from April to May, according to the Northwest Multiple Listing Service (NWMLS). Meanwhile, the number of in-city pending sales…