The Housing Bubble Blog

A report from the Seattle Times in Washington. "In King County, 73% more homes were listed at the end of May than at the same time last year. In Pierce County 74% more and in Kitsap 43%. In Snohomish, more than twice as many listings were still active at the end of the month. In a region dominated...

https://www.youtube.com/watch?v=jzjUiqtJJgo

A report from the Seattle Business Journal in Washington. "The median sale price of single-family homes in Seattle fell nearly 12% from April to May, according to the Northwest Multiple Listing Service (NWMLS). Meanwhile, the number of in-city pending sales declined over 25% year over year, while...

https://www.youtube.com/watch?v=hu8zZzqYnyI

A report from the Coeur d’Alene Press in Idaho. "Rocket Homes reported that the median home price in May in Kootenai County was $521,000, down 30.8% from a month ago. The asking price for one Dalton Gardens, five-bedroom, 2,500-square-foot home was reduced to $949,000 on Friday. Multiple offers are...

https://www.youtube.com/watch?v=D2uC3ETuwh0

A report from the Aiken Standard in South Carolina. "We're seeing a lot of people that when we come down and say, 'here's your monthly payment,' (they say), 'well, that's just too much,' said Matthew Hunter, branch manager at Assurance Financial." The Columbia Basin Herald in Washington. "'A lot of...

https://www.youtube.com/watch?v=-KySQHjj6Ho

A weekend topic starting with Tech Crunch. "You could hardly blame people looking to sell their startup shares, or those looking to buy them, for feeling unsure about where to meet on price, and that's exactly what's happening right now, says secondary market experts like CEO Kelly Rodriques of...

It's Friday desk clearing time for this blogger. "More and more homes in Citrus Heights and the Sacramento region are seeing reductions in prices from original list price. Appraiser Ryan Lundquist says it’s a different market today than just a few months ago. 'We’ve basically said goodbye to the...

A report from WHIO TV in Ohio. "The housing market has seen a significant surge during the pandemic, but now it’s beginning to slow down. Rhonda Chambal, President of Irongate Realtors, said, 'I actually have a brother-in-law who is an agent in Phoenix. He calls me and tells me what the trends are...

A report from Market Watch. "Daryl Fairweather — Redfin’s chief economist, who also worked at the Boston Fed says we’re seeing early signs that the housing market is starting to cool, at least in pricey coastal metros. 'Buyers in markets like Los Angeles, San Francisco, Boston and Seattle who have...

A report from the News & Observer. "Summer has warmed up in South Carolina, but the same can’t be said for its housing market. To some realtors, the higher interest rates and the higher sales prices themselves have begun to finally slow demand in the state and Columbia. 'I think that is an...

A report from the Mortgage Research Center. "The share of U.S. properties for sale that received competitive offers from buyers in April dropped to the lowest level in more than a year, according to Redfin. 'Higher rates are also limiting homebuyers’ ability to significantly bid up home prices,...

A report from the San Diego Reader in California. "Like a flock of birds changing flight abruptly and in unison, so could go the real estate market. One Sunday, a few months ago, I held an open house for one of my listings in Mount Helix. The comparable sales supported a list price of $1.2M....

A weekend topic starting with the Marina Times in California. "San Francisco’s real estate market may be cooling off a bit. 'Some tech folks have lost up to a third of their stock portfolio’s value this year. Along with other buyers who have down payments invested in stocks, they are certainly more...

It's Friday desk clearing time for this blogger. "Nearly one in five sellers dropped prices during the four week period ended May 22, Redfin Corp. said. 'The picture of a softening housing market is becoming more clear, especially to home sellers who are increasingly turning to price drops as...

A report from Yahoo Finance. "The buying frenzy of vacation homes witnessed during the pandemic is largely over, as intensifying home prices rapidly cool demand. Demand for vacation homes tumbled for the second month in a row in March. 'The pandemic-driven surge in sales of vacation homes is coming...

A report from Forbes. "New home sales unexpectedly plunged much more than economists projected—and for the fourth consecutive month—in April. 'In short, the party is over,' Pantheon Macro chief economist Ian Shepherdson said after the report, pointing out the collapse in sales follows a 'steep...

A report from ABC 4 in Utah. "ABC4 spoke with Rodney M., a local real estate agent in Salt Lake County. 'We're seeing the inventory of houses double on the market,' said Rodney.'This has made it easier for homebuyers to be pickier and also reduce the price of mortgages. People no longer have to...