Housing Bubble Getting Ready to Pop: Pending Sales Plunge in June, Inventory Jumps, Price Reductions Spike amid Holy-Moly Mortgage Rates by Wolf Richter • Jul 1, 2022 • 429 Comments Pent-up supply suddenly shows up – those vacant homes that no one was counting as vacant.
The Most Splendid Housing Bubbles in America, June Update: “Deceleration” and “Tipping Point” of the Raging Mania by Wolf Richter • Jun 28, 2022 • 237 Comments But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices we’ll only see in a few months.
Housing Bubble Woes: Supply Jumps, Sales Drop, Median Price Skewed Higher by Shift in Mix as Bottom Falls Out below $500k, amid Holy-Moly Mortgage Rates by Wolf Richter • Jun 21, 2022 • 253 Comments California special: Pending sales collapse by 30%, prices begin to “moderate,” San Francisco condo prices decline year-over-year.
Stock Market Swoon Pulls Rug Out from under Luxury Home Sales by Wolf Richter • Jun 20, 2022 • 106 Comments The June sell-off did a job on them.
“Real Estate Tech” in Existential Crisis as Housing Sours, Stocks Plunge, New Money Out of Reach: Redfin & Compass Try to Survive by Cutting Staff. Opendoor, Zillow Sag by Wolf Richter • Jun 14, 2022 • 195 Comments In short, the party ran out of bamboozle.
That Was Fast: 30-Year Fixed Mortgage Rate Spikes to 6.18%, 10-Year Treasury Yield to 3.43%. Home Sellers Face New Reality by Wolf Richter • Jun 13, 2022 • 274 Comments Something has to give. And it’s going to be price.
Housing Bubble Getting Ready to Pop: Mortgage Applications to Purchase a Home Drop to Lockdown Lows, “Bad Time to Buy” Hits Record amid Sky-High Prices, Spiking Mortgage Rates by Wolf Richter • Jun 8, 2022 • 305 Comments Refinance mortgage applications collapsed to lowest since year 2000.
Suddenly Here Comes the Inventory: Homes Listed for Sale Jump amid Price Reductions and Sagging Sales by Wolf Richter • Jun 2, 2022 • 227 Comments The shadow inventory emerges with perfect timing, just as holy-moly mortgage rates and sky-high prices keep buyers away.
The Most Splendid Housing Bubbles in America, May Update: Mania at the Eve of Holy-Moly Mortgage Rates by Wolf Richter • May 31, 2022 • 282 Comments Purchased in a panic when mortgage rates averaged 3.2% to 4.2%, just before the majestic spike.
Housing Bubble Getting Ready to Pop: Unsold Inventory of New Houses Spikes by Most Ever, to Highest since 2008, with 9 Months’ Supply, Sales Collapse at Prices below $400k by Wolf Richter • May 24, 2022 • 343 Comments Stocks of homebuilders swoon amid worst inflation in construction costs, shortages, and spiking mortgage rates that take buyers out of the market.
