Housing

Sales of Existing Homes Drop to Worst March since 2009. West, South, Midwest, Northeast All Get Crushed. Supply Surges to Highest since 2016

by Wolf Richter • Apr 24, 2025 • 113 Comments

The 3-year 50% price explosion caused epic demand destruction. Prices way too high. But mortgage rates back in the historically normal range above 6%.

Inventory of New Houses for Sale Stuck at Highest Level since 2007, Driven by Gluts in the South & West. Prices Fall, Incentives Soar, Sales Rise

by Wolf Richter • Apr 23, 2025 • 70 Comments

Homebuilders get aggressive to sell the inventory, but prices are still far too high.

In 15 Bigger Cities, Condo Prices Already -10% to -22%, 5 Are in Florida with Accelerating Drops. Absurdity Comes Unglued

by Wolf Richter • Apr 22, 2025 • 129 Comments

Austin, Oakland, St. Petersburg (FL), San Francisco, Boise, Detroit, New Orleans, Denver, Jacksonville, Naples, Tampa, Mesa, Portland, Seattle.

The Spread between 10-Year Treasury Yield & Mortgage Rates Is Historically Wide and Widened Further: Some Thoughts

by Wolf Richter • Apr 18, 2025 • 152 Comments

Mortgage rates are higher in relationship to the 10-year Treasury yield than they were most of the time over the past 50 years. There are reasons.

The Most Splendid Housing Bubbles in America, March 2025: The Price Drops & Gains in 33 of the Largest Housing Markets

by Wolf Richter • Apr 17, 2025 • 143 Comments

Metros with YoY price drops double to 14: Austin, Tampa, San Antonio, Phoenix, Dallas, Orlando, Atlanta, Miami, Denver, Raleigh, Houston, Birmingham, Charlotte. YoY gains narrow sharply in San Diego, Los Angeles, Boston, Chicago, New York, Philadelphia, Columbus… 20 below 2022 peaks.

Shadow Inventory of Vacant Homes Suddenly Piles on the Market in Texas. New Listings, Active Listings Spike to Highest for March in Many Years

by Wolf Richter • Apr 9, 2025 • 60 Comments

Houston, Dallas-Fort Worth, Austin, San Antonio: Even as sales plunge, vacant homes pile on the market that were held off the market during Covid.

Inventories of Existing Homes in Florida Spike in March to Highest since at Least 2016, Massive Jumps in Tampa, Miami, Orlando, as Buyers Are on Strike

by Wolf Richter • Apr 5, 2025 • 116 Comments

These sellers have to compete with inventory of new houses that in the South is now above Housing Bust highs.

As Life Happens, “Locked-in” Homeowners Pay Off Below-4% Mortgages: Share Drops to 54%, Lowest since Q4 2020

by Wolf Richter • Apr 1, 2025 • 47 Comments

Conversely, the share of 6%-plus mortgages outstanding surges to the highest since 2016.

In the South & West, Pending Sales of Existing Homes Mark Worst February in the Data, as Inventories in Florida, Texas, California Surge

by Wolf Richter • Mar 27, 2025 • 52 Comments

Frozen sales meet ballooning inventories.

Home Buyers Still on Strike, Waiting for Lower Prices, Lower Rates, and Higher Incomes

by Wolf Richter • Mar 26, 2025 • 107 Comments

Demand for mortgages to purchase a home has plunged by nearly double the rate of sales of existing homes.

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