The Housing Bubble Blog

A report from the Seattle Times in Washington. "Across King County, condo shoppers have nearly three times as many units on sale to choose from than when the market peaked last year. Bidding wars have all but disappeared. The typical condo even now sells for below list price, which was unheard of...

It's Friday desk clearing time for this blogger. "An Upper East Side mansion finally sold after more than a year on the market and a hefty price reduction. The elegant limestone structure was acquired by an anonymous buyer for $30.1 million. The Kagans bought the late-1890s house in 2009 for $24.5...

A report from Mansion Global on California. "San Francisco’s median house price was $1.545 million in the first quarter of 2019, a 4% decline from a year ago, according to a quarterly report from Compass. Overall sales in the Golden Gate City plummeted 13% in the first quarter compared to a year...

A report from Bloomberg on Florida. "A housing slowdown is taking hold in some Florida markets, where a growing share of properties sold only after the seller cut the asking price. Miami leads the nation in both the size and frequency of such deals. In Miami, about 88 percent of single-family home...

A report from Western Australia Today. "The housing price plummet has allowed more first homebuyers to enter the market, but for sellers it has seen the value of the average Perth dwelling drop from $540,556 in 2014 to $442,716 in March 2019. In regional WA, mining towns in the west Pilbara are...

A report from the Seattle Times in Washington. "Renters looking for something that might qualify as a deal by Seattle standards are in luck as a record number of new apartments spring up. And with new housing openings scheduled to peak this spring and summer, there’s a consensus that rents won’t be...

A report from Curbed New York. "A contractor who worked on a lower Manhattan condo tower—which is now leaning slightly—is suing the project’s developer, accusing the firm of cutting corners to curb costs, according to court documents. The 58-story tower at 161 Maiden Lane, also known as 1 Seaport,...

A report from Global News in Canada. "A local realtor and real estate blogger has crunched the numbers and he says Greater Vancouver home sales just had their worst month of March since 1986. According to Steve Saretsky, unreleased numbers from the Canadian Real Estate Association show just a...

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 buyers to purchase them. Gone are the days of listing a home and it selling overnight...

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 oversupply of high-end apartments, a lack of foreign buyers and the new...

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 that some appraisals were not keeping up. Now...

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 of Realtors says there are plenty of homes available in...

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 year-over-year decline since 2009, according to the...

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, the median price for single-family homes in February was $1.825...

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 units could be a welcome development for renters as new...

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 to industry insiders. And new CoreLogic figures show the top 25...

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, is now listed at $164,900, far...

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 that there is no recession in sight. While home...

A report from the Acadiana Advocate in Louisiana. "When Jose and Angie Medina got married in 2007 the 33 lots in the Gideon Grove subdivision outside Youngsville were still mostly empty. But the developer, Roderick Cawthorne, persuaded them the sparse neighborhood would soon be filled with young...

It's Friday desk clearing time for this blogger. "Real estate experts say the Nashville housing market is cooling. Entry-level inventory is up a whopping 29.5 percent. Zillow economist Skylar Olsen said, 'One of the other things that's nice and why we know things are cooling off is we are seeing...