The inflection point was July. Conditions have deteriorated since.
The inflection point: sellers got the memo and cut prices.
Mortgage rates are climbing faster than the 10-year Treasury yield.
Seattle prices fall sharply. New York condo prices nearly flat for the year. First feeble declines in San Francisco, Dallas, Denver, etc. Something is afoot.
Hot air is hissing out of this market.
Forget the hype about a shortage of supply.
How the next housing bust might unfold – the best-case scenario.
It has finally happened – a line in the sand has been breached.
“101 new listings, 101 price reductions.”
It’s not fun anymore.