The Housing Bubble Blog

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It's Friday desk clearing time for this blogger. "'In my 22 years experience, I’ve never seen it move as fast as it was. I mean, back in Easter, every deal I had was multiple offers. You know, few months later, it’s crickets. I mean, I have hardly any showings or any offers. So the buyers are just...

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A report from Nerd Wallet. "Michelle Doherty, a Realtor in northern Virginia, notices the same thing. Buyers 'hold off, thinking, 'You know what? We'll wait for them to drop [the price].' She prods clients to make offers below asking instead of waiting for sellers to reduce prices. The worst that...

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A report from NBC Bay Area in California. "Median home prices in San Francisco have fallen by more than $300,000 in three months, Compass reports. Experts said it is tough to buy a home now as prices are likely to fall further. 'As that's happening, we're seeing sales start to dip,' said Nicole...

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A report from the Orlando Sentinel in Florida. "'The normal day now, I wake up, look at the [multiple listings service for agents], see a hundred new listings and 400 price decreases,' said Jeremy Wood, an agent with Keller Williams Heritage Realty in Altamonte Springs. Higher end luxury home sales...

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A report from the Dallas Business Journal in Texas. "The number of new homes sitting on the market is up significantly. The three-month moving average of active listings in the North Texas Real Estate Information Systems jumped from 933 in April to 2,915 in June – an increase of more than 200% in...

A report from Bloomberg. "Institutional landlords are canceling contracts and getting more particular about purchases. The tech-powered home flippers known as iBuyers are slashing asking prices to clear inventory. Small-time property hounds are passing on homes they would have bought three months...

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A weekend topic starting with Sparta Independent on New Jersey. "'It was ticking upward, but in the last 90 days or so, prices have started to flatten out, if not come down slightly,' explained Realty Executives broker and Manager Nicole Monahan. This time last year, her Pike County office may have...

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It's Friday desk clearing time for this blogger. "'Prices are down well over 20% from the height in April and May,' said Lori Abbey with The Abbey Collection at Compass Real Estate. Metro Denver had twice as many homes with price drops compared to the same time period in 2021. 'In two or three...

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A report from the Center Square. "'I have to admit, even I am a little shocked at how fast the market decided to change,' said Patrick Muldoon, a realtor in Colorado Springs. 'It is like we had a really hot summer day and a few days later, a blizzard. One weekend we were watching buyers toss...

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A report from the Spokesman Review in Washington. "'Real estate is a cyclical thing. What goes up, must come down,' Rob Higgins, executive officer for the Realtors association said of the local housing market. Spokane County's overheated housing market appears to finally be cooling as inventory...

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