Housing Bubble Woes: Sales of Homes Below $500K Plunge, Total Sales Drop to Lowest since Lockdown, Supply Jumps by Wolf Richter • Jul 20, 2022 • 204 Comments The magic of ridiculously inflated home prices meeting holy-moly mortgage rates.
San Francisco Bay Area, Southern California Home Sales Crater, Prices Begin to Drop. California Pending Sales Collapse 40% by Wolf Richter • Jul 19, 2022 • 198 Comments The first year-over-year price declines crop up as the crazy California housing market “normalizes” amid holy-moly mortgage rates.
Housing Bubble Getting Ready to Pop: Traffic of Prospective Buyers of New Houses Plunges, Homebuilders Cut Prices, Sentiment Dives by Wolf Richter • Jul 18, 2022 • 266 Comments Homebuilder stocks have been wobbling lower all year, now down between 24% and 40%.
Cash-Out Refis with Holy-Moly Mortgage Rates for Remodeling Projects? Professional Home Remodelers Face New Challenges by Wolf Richter • Jul 11, 2022 • 119 Comments Amid shortages, exploding prices, and long lead times, there are now the new realities of a turning housing market.
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 • 438 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.
