The Housing Bubble Blog

A weekend topic starting with Bisnow South Florida. "Short term rentals have proliferated across Miami as developers race to meet demand that surged during the pandemic. At least 4,312 short-term rental units across 12 projects have been proposed or started construction in Miami just since...

It's Friday desk clearing time for this blogger. "U.S. existing-home prices posted their biggest year-over-year decline in more than 11 years last month. The national median existing-home price fell 3.1% in May from a year earlier to $396,100, the largest drop since December 2011, the National...

A report from the Dallas Morning News in Texas. "The median Plano home sale price dropped from $540,000 in March 2022 to $500,000 in March 2023, a 7% decrease in line with neighboring Collin County cities. Median home prices for Frisco, Allen, McKinney and Richardson decreased by 1%, 17%, 7% and...

A report from the Dallas Business Journal in Texas. "Homes in Dallas-Fort Worth are selling far more slowly and for lower prices than they were a year ago, according to Re/Max. The median home sale prices in DFW was down 4.5% in May compared to a year ago, according to the Re/Max National Housing...

A report from the Pueblo Chieftain in Colorado. "Pueblo’s real estate market experienced another rough month in May. The median sales price now hovers around $300,000, which dropped nearly 12% this May when compared with last year and 'is down 1.6% year to date,' said Dave Anderson, spokesperson...

A report from Yahoo Finance. "Rental landlords may have to brace for impact. 'We're going to deliver more supply than what we can realistically absorb,' Carl Whitaker, director of research at RealPage told Yahoo Finance. The pressure will come during the second half of this year and into the next...

A report from Community Impact in Texas. "The latest report from the Austin Board of Realtors shows the average price of homes in Round Rock in May sat at $547,953, which represents an 11.6% decrease from May 2022, when the average home price was $592,653. The average home sales price in in Hutto...

A weekend topic starting with The Street. "Research from real estate investment firm Amherst Group, as cited in Forbes, shows that the housing market is overvalue by as much as 40%. Amherst manages $16.8 billion in capital for investors and is one of the country's largest owners of single-family...

It's Friday desk clearing time for this blogger. "The median existing home-sale price in Forsyth County dropped by 14.3% in the first quarter, according to Attom Data Solutions. Attom reported Guilford County had a median sale price of $220,000 in the first quarter, down 11.3% from $245,000 in the...

A report from Fortune. "Fed Chair Jerome Powell took the podium on Wednesday to announce that the central bank would hold interest rates flat in June. Powell didn't rule out future hikes, and called this move a 'skip.' At the end of November 2022, Powell said a "housing bubble" had formed during...

A report from Bloomberg. "Starwood Capital Group, led by Barry Sternlicht, is exploring a sale of more than 2,000 single-family rental homes. SREIT owned 3,210 single-family rental homes valued at $1.26 billion as of March 31, according to a filing. It recognized a nearly $80 million impairment...

A report from CBS 5. "The Valley housing market is cooling down, experts said, correcting after what used to be one of the hottest markets in the country. Median home prices are down more than $50,000 from this time last year. 'The prices went down anywhere from 8-10% depending on where you went in...

A report from KERA in Texas. "Critics of short-term rentals want Dallas officials to pass an out-right ban on the rentals in single-family zoned areas of the city. But city staff says right now, enforcement of the proposed ordinance would be difficult and costly. 'This is not a problem I created, I...

A report from Sarasota Magazine in Florida. "The Sarasota metro area recently topped a national list that ranks places based on where home inventory saw the greatest increases over the previous year. With a 128 percent hike, our inventory more than doubled, topping other metros like Nashville,...

A weekend topic starting with WNCT in North Carolina. "A Greene County man is moving into his home with the help of a loan program from the USDA Rural Development. Ryan Roberts applied for the Section 502 Direct Loan Program. 'Essentially we can do 100% financing,' said Reginald Speight, the USDA...

It's Friday desk clearing time for this blogger. "Owners with a mortgage lost a small amount of equity last quarter — an average of $5,400 per borrower — marking the first annual decline since 2012, according to CoreLogic. But home-equity changes varied widely across regions. Western states posted...

A report from My Northwest in Washington. "The glory days of 30-year mortgage rates hovering around 3% or less may be in the rearview mirror. Windermere's Chief Economist Matthew Gardner was on Seattle’s Morning News Wednesday and declared, ‘Are we ever going to get back to sub 3%?’ No, that was...

A report from the News Press in Florida. "Lee County Property Appraiser Matt Caldwell released his preliminary report on real estate values in Lee County during 2022. Two barrier island communities hit hardest by Hurricane Ian saw sharply falling values, a nearly 40% decrease in Fort Myers Beach...

A report from The Street. "Florida's Sarasota is the city with the biggest increase of home listings hitting the market. Between May 2022 and 2023, there's been an 128.1% increase in for-sale properties. The high inventory has to do with overall oversaturation of the real estate market. 'Too many...

A report from KING TV in Washington. "'January 1, of 2022 was a high water mark, the real estate market was red hot. Houses were selling for a half million bucks over the asking price. January 2023, is a whole different world and the values have actually gone down,' said King County Assessor John...