The Housing Bubble Blog

It's Friday desk clearing time for this blogger. "The average asking price of homes in the Lakes Region is definitely inflated by the many high-priced waterfront homes that are on the market. Big time! You’d almost think we were in California or Boston when you look at the $693,157 average asking...

A report from the Georgia Straight in Canada. "The Real Estate Board of Greater Vancouver is reporting another painful month for the housing market. According to the REBGV, 1,829 homes were sold in April 2019, representing a 29.1 percent decrease from the number recorded in the same month last...

A report from the Wall Street Journal. "Lumber prices typically rise in the spring as builders stock up for construction season. But this year, they are being hit hard by bad weather and a decline in home building. 'We’re starting to feel a little nervous about the market in the next year,' said...

A report from the Globe and Mail in Canada. "As the Toronto real estate market crawls through a slow patch, there is growing anecdotal evidence that some agents are bending and sometimes breaking the rules to drum up business. For realtors, it’s a rough market. There were 7,187 home sales in the...

A report from CNBC. "The nation’s priciest properties are in far less demand this year, and that is taking a toll on their values. Sales of homes listed at $2 million and above fell 16% in the first quarter, the sharpest annual decline since 2010, according to Redfin. This as the supply of those...

A report from the Wall Street Journal. "The Morgan family of western New York built one of the country’s largest rental apartment empires, amassing more than 140 properties and more than 34,000 units across 14 states. Now the family business, Morgan Management, is beginning to shrink as it faces...

A report from Stuff New Zealand. "It was revealed by the Real Estate Institute this week that, in some parts of Auckland, the median residential property sale price in the six months to the end of March was 30 per cent less than in the same period the year before. Mt Albert had the biggest price...

A report from the Tennessean. "Home buyers are gaining the upper hand in Nashville as demand continues to trend down this year. The number of unsold homes in the Nashville Metro area sitting on the market in March – 11,510 – was the largest since January 2015. 'Nashville is one of the many places...

A report from the Salt Lake City Tribune in Utah. "Sales of single-family homes declined in all five counties along the Wasatch Front in early 2019 as prices continued a multiyear trend upward, though that rise in prices appears to be slowing significantly. 'It’s definitely not a sellers’ market,...

A report from the Bay Area News Group in California. "Home sales flagged 14.3 percent Santa Clara County and 11.8 percent in San Mateo County. Median sale prices fell by 11.1 percent to $1.2 million in Santa Clara County and 2.4 percent to $1.5 million in San Mateo County from the previous March....

A report from the Denver Post in Colorado. "Price declines are becoming much more widespread. A year ago, an unlucky seven Denver area ZIP codes failed to register annual home price increases in the first quarter, according to the DMAR data. This year, 26 lost value in the first quarter." "The...

Two reports from the Buffalo News. "A Kuwaiti realtor and his multiple companies bought or brokered at least 160 houses in struggling Buffalo neighborhoods as part of an international Ponzi scheme. The realtor and his associates are serving prison time in the $140 million to $240 million scam that...

A report from the Globe and Mail in Canada. "The average price of a detached house in the 416 area code of Toronto has fallen 20 per cent from the high water mark of $1,578,542 set in April, 2017. In March, the average price of a detached stood at $1,267,598 in the 416. Patrick Rocca of Bosley Real...

A weekend topic starting with CNBC. "With the U.S housing bubble far in the rearview mirror, home prices in most places have passed their pre-recession peak. In other spots, though, it's a different story. 'Some markets that experienced a huge run-up and then a big downturn are still waiting for a...

A report from the Los Angeles Times in California. "The Southern California median home price dipped slightly in March from a year earlier, the first annual decrease since 2012 and a sign of a remarkable downshift from the once-sizzling regional housing market. 'It’s slowed down a lot from last...

It's Friday desk clearing time for this blogger. "The new color for this spring's housing market map is red, as more and more Dallas-area neighborhoods show declines in purchases from a year ago and lower overall sales prices. The biggest year-over-year price declines were in East Dallas, Far North...

A report from News Channel 9 in Tennessee. "Construction in downtown Chattanooga might seem to be never ending. New apartments and condos pop up frequently around town, but is there enough demand for all of this growth? 'We had a lot of apartment developments open, several hundred open kind of...

A report from the Boston Globe in Massachusetts. "The number of houses and condos sold in the region in March was essentially flat, according to the Greater Boston Association of Realtors. Prices climbed, but not at the torrid pace of the last two years. And the number of homes listed for sale —...

A report from Los Altos Online in California. "Santa Clara County Assessor Larry Stone discussed current trends at the Rotary Club of Los Altos. Stone noted the median price of single-family homes over the last seven months has declined 16 percent in Silicon Valley." From ABC 7 News. "There are...

A report from Banker and Tradesman on Massachusetts. "Last month, there were 1,716 condominium sales recorded in Massachusetts, according to The Warren Group a 5.8 percent decrease from March 2018. Meanwhile, the median condominium sale price dropped 7.3 percent on a year-over-year basis to...