Prices of New Houses Drop Further, Builders Stimulate Sales with Price Cuts, Pulling Demand from Previously Owned Homes by Wolf Richter • May 23, 2023 • 121 Comments That arbitrage is now happening among homebuyers. But regular homeowners wanting to sell haven’t figured it out yet.
Rent Inflation Re-Accelerates to Red-Hot, All Three Now Agree: Zillow Asking Rents, What Big Landlords Said, and Actual Rents Tracked by CPI by Wolf Richter • May 22, 2023 • 240 Comments Debacle on the Inflation Front: The Fed’s victory lap about having licked rent inflation was premature.
Home Sales Plunge, Supply Rises, Prices Drop Year-over-Year Most since 2012. Even Investors Pull Back by Wolf Richter • May 18, 2023 • 279 Comments Even All-Cash sales plunge 22% as investors don’t feel like overpaying either. The 2023 version of spring selling season is here.
Slowdown in Residential Construction Centers on Single-Family Houses. Multifamily Flattens at Highest Level Since 1986 by Wolf Richter • May 17, 2023 • 86 Comments Single-family construction still dominates, but its share of residential construction falls to the lowest in decades.
Why I’m Skeptical of Powell’s Claim Red-Hot Rent CPI Will Just Vanish: Landlords Report the Opposite, even for April by Wolf Richter • May 8, 2023 • 298 Comments High demand by renters of choice trying to outwait the housing turmoil pushes up actual rents in a range of 6% to 8%.
With Mortgage Rates Stuck at 6.5%, Spring Selling Season Turns into Dud by Wolf Richter • May 3, 2023 • 129 Comments But unlike homeowners, homebuilders know how to sell into a down-market: by cutting prices. So a shift to new home sales.
Spring Selling Season Already Goes to Heck, Pending Home Sales Plunge. Banking Crisis to Blame? by Wolf Richter • Apr 27, 2023 • 101 Comments A harbinger for closed sales in April and May.
The Most Splendid Housing Bubbles in America, April Update: Year-over-Year Price Drops Worsen in San Francisco, Seattle, San Diego, Portland, Las Vegas, Phoenix, Los Angeles, Denver by Wolf Richter • Apr 25, 2023 • 254 Comments Even Miami lost ground. Spring selling season is a dud so far. And the banking crisis hasn’t even made it into the data yet. That’s still to come.
Housing Market Takes Another Step Back: Home Prices Drop Year-over-Year for Second Month. Already Dismal Sales Fell by Wolf Richter • Apr 20, 2023 • 130 Comments Investors lost interest too: Sales to all-cash buyers plunged 24% year-over-year.
The Most Splendid Housing Bubbles in Canada: Spring Selling Season in a Housing Bust by Wolf Richter • Apr 14, 2023 • 128 Comments Prices rose in March, but are down 17.5% year-over-year, the second-worst in the data. Sales -34% year-over-year.
