The Housing Bubble Blog

A report from the Review Journal in Nevada. "Close to 60 percent of the homes for sale in the Las Vegas Valley have been on the market for more than a month, according to Redfin. Shay Stein, a Redfin real estate agent based in the valley, said overall the market could be described as 'stagnant,'...

It's Friday desk clearing time for this blogger. "The share of languishing listings has been accelerating thanks to a bump in more houses being offered for sale at the same time that demand has waned. Dawn Brenengen of Trailwood Realty in Raleigh, North Carolina, comments with an anecdote of how...

A report from WFLA. "Florida homeowners are still getting hammered by rising insurance rates and some people are getting their policies dropped altogether. It’s a concern that has James Toth crunching numbers, especially after seeing a sharp 30% spike in his premium over the last two years. 'We’ve...

A report from the Gilbert Sun News in Arizona. "Overall, Phoenix Realtors board President Sheryl Bowden was upbeat about the June housing market results for the Valley in general, though she admitted, 'It’s still a challenging marketplace. With the over 6,100 new listings in June, we have a strong...

A report from WDSU in Louisiana. "The insurance crisis has now reached a catastrophic level as it cripples a vulnerable population of homeowners in the greater New Orleans area. According to Habitat for Humanity's CEO Marguerite Oestreicher, about 140 mostly 'older' habitat for humanity homeowners...

A report from the Floridian Press. "Governor Ron DeSantis has called for the Florida Legislature to modify the Condo Safety Law he signed after the Surfside tragedy of 2021 to ease the financial burden on condo owners. Since the Law was signed, horror stories of Florida residents, including...

A report from the Palm Beach Daily News. "Michael Milillo thought his home in the Flagler House condominium in West Palm Beach would be his last. Coastal breezes drift through the 74-year-old’s unit hugging the Lake Worth Lagoon. He and his wife bought the two-bedroom condo in 2013 for $150,000....

A report from the Providence Journal. "The price of a single-family home in Rhode Island has nearly doubled since 2019. In June, the median price for a single-family home hit $494,000. Five years ago, in the pre-pandemic days of 2019, the median price was $250,000. 'It's nuts, it's crazy, it's...

It's Friday desk clearing time for this blogger. "Condos that were around when the Hurricanes lost a national championship game to the Nebraska Cornhuskers in the Orange Bowl are flooding the South Florida market. That was 30 years ago. There is a crush of condos built in 1994 or earlier for sale...

A report from Reuters. "Sales of new U.S. single-family homes fell to a seven-month low in June. For now, the housing market remains on the back foot. Data from the National Association of Realtors on Tuesday showing existing home sales slumping to a six-month low in June. The inventory of new...

A report from National Mortgage Professional. "Nearly 56,000 home-purchase agreements were canceled in June, equal to 14.9% of homes that went under contract that month — the highest percentage of any June on record, according to Redfin. 'They’re backing out due to minor issues,' said Julie...

A report from Boston.com in Massachusetts. "After modest growth in sales activity in Boston area housing, the market slowed down in June to its lowest level in four years, GBAR reported. GBAR President Jared Wilk cautions homeowners not to get too aggressive on pricing, as this could reduce the...

A report from the Bakersfield Californian. "Bakersfield home sales took unexpected and, in some cases, confusing turns in June, leading one longtime observer to call the market unstable. The laws of supply and demand seemed to go unenforced as demand for existing single-family homes rose and supply...

A report from ABC News. "A slice of paradise in Montana is suffering economic disruption. Seeley Lake’s problem lies in its lack of a centralized sewer system. The Missoula County community’s reluctance to come up with a plan to replace its septic system means no affordable housing can be built for...

A report from the Miami Herald. "It seems like the perfect storm right now for South Florida’s high-rise market. Condo deals in Miami-Dade and Broward counties fell double digits in June, according to the latest real estate report — just as condo owners become increasingly strapped by rising...

It's Friday desk clearing time for this blogger. "The Denver Metro Association of Realtors (DMAR) market trends report for June showed 10,214 active listings on the market at the end of June, a 68.27 percent increase from the same month last year. The last time there were over 10,000 active...

A report from WVUE. "The New Orleans housing market stretches well beyond the city’s limits. It covers 10 parishes, and what’s happening within the market has realtors concerned. Closed sales of homes have dropped 24.3% from June 2023 to June of this year. 'Well, overall it’s dramatic for the time,...

A report from the Star Tribune in Minnesota. "Joan and Mark Robertson seemed poised for short-term rental success when the Bloomington couple bought a townhouse minutes from Disney World two years ago and spent about $15,000 on upgrades. For the first six months or so, business was steady. Then...

A report from Go Banking Rates. "Although Florida has made headlines lately due to the rising cost of home insurance premiums, it’s not the only state suffering. Robb Lanham, Chief Sales Officer for HUB Private Client listed California, Texas, Colorado, New York, Louisiana, and Montana as other...

A report from the Gazette Journal in Nevada. "On Aug. 17, the National Association of Realtors will implement changes that its members must follow as part of a sweeping $418 million settlement over its practices. One potential concern from the Consumer Federation of America is whether the new...