The Most Splendid Housing Bubbles in Canada: Prices Drop Further as Sales Slow and New Listings Jump Further by Wolf Richter • Oct 14, 2023 • 162 Comments The Home Price Benchmark Index is down 14% from peak in March 2022, Toronto down 15%, after wild and woolly sucker rally over the spring.
The Most Splendid Housing Bubbles in America, September Update: Spring Bounce Fades. 20-City Index -0.6% from Peak in 2022, Flat Year-over-Year by Wolf Richter • Sep 26, 2023 • 153 Comments San Francisco -11% from peak, Seattle -10%, followed by Las Vegas, Phoenix, Portland, Denver, Dallas, San Diego, Los Angeles, Tampa.
Prices of New Houses Drop, Sales Drop, Supply Jumps by Wolf Richter • Sep 26, 2023 • 109 Comments Cut the price, and they will not come? Homebuilders, in a tough market, compete with homeowners who are still delusional.
Demand for Existing Homes Falters Further. Price Cuts, Days on Market, New Listings Rise. Prices Languish below 2022 Peak by Wolf Richter • Sep 21, 2023 • 194 Comments New listings rose in August, when they normally fall in August, an interesting break in the seasonal pattern.
Mortgage-Rate Buydowns by Homebuilders Are Now All the Rage to Prop Up Sales, Lowering Effective House Prices in a Big Way, but Don’t Get Picked Up by House Price Data by Wolf Richter • Sep 10, 2023 • 279 Comments Appraisers have not yet caught on to it either.
The Most Splendid Housing Bubbles in America, August Update: 4th YoY Price Drop Overall, 10 of 20 Cities with YoY Drops. Month-to-Month, Selling Season Begins to Fade by Wolf Richter • Aug 29, 2023 • 168 Comments Year-over-year price drops in San Francisco, Seattle, Las Vegas, Phoenix, Denver, Portland, Dallas, San Diego, Los Angeles, and Tampa suddenly.
Mortgage Rates Adjust to New Era, Jump to Highest since 2001. Long-Term Treasury Market Slowly Coming out of Denial by Wolf Richter • Aug 24, 2023 • 184 Comments The new era of “higher for much longer.” The 40-year bond & mortgage bull market died in late 2020.
Each of the Past 7 Julys Had the Lowest Inventory of Existing Homes on Record. Inventory Fell for 16 Years. One Big Reason: Technology by Wolf Richter • Aug 23, 2023 • 113 Comments A home enters inventory when it’s listed for sale and exits inventory when the sale closes. Technology finally sped up the clunky processes in between.
Home Sales Plunge Further as Demand Vanished at these Prices. Even Cash Buyers Pull Back. Supply Keeps Rising by Wolf Richter • Aug 22, 2023 • 260 Comments Prices drop MoM and from peak (Jun 2022). Days on market jump. Homeowners with 3% mortgages vanish as buyers and sellers, entire market shrank.
San Francisco House Prices Plunged Faster (-29%) in 16 Months of Housing Bust 2 than in the First 16 Months of Housing Bust 1 by Wolf Richter • Aug 17, 2023 • 140 Comments But the Bay Area cannot keep up with the spectacular collapse of prices during Housing Bust 1. That had been a doozie.
