Home Price Drops – Top 10 Cities
Home Price Drops – Top 10 Cities
Latest data is showing a big crash in Home Prices in 10 Cities across America.
Cities like Denver, Los Angeles, San Francisco, and Austin had Home Value Drops in June 2022 according to the Zillow Home Value Index (“Raw Mid Tier”). https://www.zillow.com/research/data/ Read more 
Home Price Reductions
Home Price Reductions on Active Listings
A quick look add a real estate market leading indicator, price reductions on active listings, in a couple of main Metro areas in California and Arizona.
Keep in mind when looking at the charts, the notice the trendline of today’s price reductions versus price reductions last year in 2021. Read more
Housing Bust Inventory Surge
Housing Bust Inventory Surge
The Housing Bubble is turning into a Crash. Buyers are dropping out of the market and inventory (aka homes for sale) is surging. This is likely to get worse in the future because Mortgage Purchase Applications – a forward looking indicator of Housing Demand – keep declining.
States with massive surges in Homes for Sale include Idaho, Utah, and Arizona.
San Diego Housing Bubble 2016 ?
San Diego Housing Bubble 2016
California Real Estate
Is there a San Diego housing bubble that’s going to burst sometime soon?
Usually it would be very rare on a real estate agents or real estate broker site that have a post about the possibility of another real estate bubble. But, with that said real estate brokers and real estate agents are not economist and basically we in a sales industry, where to be successful you must be optimistic. Now, there’s nothing wrong with being optimistic about your industry. The problem is when industry insiders become overly optimistic and operate with a set of blinders.
This is exactly what happened in the San Diego real estate bubble that started in 2005. I was lucky enough to be one of the very few San Diego real estate professionals who in the summer of 2005 wrote extensively about what I saw as an eminent San Diego real estate market crash. Read more
San Diego Condo Prices Up 30% – A New Real Estate Bubble Forming?
San Diego Condo Prices – Another Bubble?
San Diego California single-family median resale home prices hit $432,000 in March, a rise of 5 percent from February, and nearly 19 percent from March of 2012.
Condos and townhomes saw an even higher increase in the median price – $285,000, which is a jump of 14 percent from February, and 30 percent from March of last year.
Normally, single-family home prices should increase 2-3% a year tops plus inflation… yet we’re seeing 20-30% increases or more? Home values are halfway back to where they were pre-2007! Read more
San Diego Real Estate – It Could Get Really Ugly
Did you see Fortune magazine's article (12/22/08) regarding their picks for the worst 10 real estate markets in the nation for 2009? Eight of the 10 worst markets they've called are here in California. Fortune's article projected valuation losses in the eight California cities of 21-25% for 2009 and additional 2-5% losses for 2010. Really, not what you want to hear anytime, but especially at new years.
Related other blogger's posts:
- San Diego Real Estate Bubble Caused Local Recession : The Real …
- Housing Analysis: Real Estate Prices fall again in December 2008
- The Housing Chronicles Blog: Investors returning to California's …
- The Housing Bubble Blog » Bits Bucket For January 6, 2009
- San Diego real estate blog » San Diego Real Estate Bust of 1945?
- Bubble Markets Inventory Tracking: More On the Purchase
– San_diego San Diego’s local economy was largely real estate driven in the early part of the century. The real estate bubble fueled an economy that fed real estate agents, mortgage brokers, and construction workers, and fed off itself. …
– VANCOUVER, B.C. – January 5, 2009 – The record-breaking real estate market cycle in Greater Vancouver, longer than normal at seven consecutive years, ended in 2008 amidst global economic challenges. The change brought relief from rising …
– A blog from a real estate industry writer, public speaker, and consultant with MetroIntelligence Real Estate Advisors, a division of Beacon Economics; providing commentary and news citations on regional, national and international real …
– Motivated sales, which include foreclosure auctions and banks selling homes taken over for non-payment, increased 193 percent from January to October 2008 from a year earlier, New York-based real estate data company Radar Logic Inc. …
– San Diego Real Estate Bust of 1945? by bob711 — published on December 10th, 2008. This is a must watch video, with a lot of solid points. This real estate bust is NOT fair! Already the California legislature is considering a four month …
– Number 2, it is typically still ok to buy at the peak of a "normal real estate cycle." Recall a few years back during the bubble peak a lot of folks were using the prior cycle and said, "well, we bought at the peak then and we did ok. …
#1 Key To Purchasing Real Estate in the San Diego Market
If you were listening to the real estate "rose-colored glasses "crowd, in 2006 you would have heard "It's not a slowdown and there is NO bubble. The San Diego market is just going back to 'normal.' It's an excellent time to buy with out the market frenzy of multiple offers & buyers paying over the asking prices."
In 2007 you would have heard, "It's a normal correction to a buyer's market. Many great San Diego home buys, compared to the past year or two, are available if you act fast.
In 2008 (early August '08) the headline in the San Diego Buying Guide read: "Buyers are out in record numbers." Question: Record numbers compared to what time frame? Perhaps a more appropriate headline would have been: "San Diego buyer’s activity increasing because of demand for foreclosure & short sale properties at 40 to 50% below their 2005 highs."
Therefore, in my humble opinion, the #1 key for buying a home in San Diego today, is waiting patiently for the market to tell you that it has bottomed. I'm not talking about a one or two month blip here, or the Industry talking heads saying to act fast, but real, documented facts of a bottoming process occurring.
Sure, you might lose some of the upside, but you would be able to sleep at night. Buying simply because property looks cheap as opposed to last week, last month or the last year, is the majority thinking. With that reasoning, you would be have been buying all the way down in 2006, 2007 & 2008.
I would venture to say the vast majority of San Diego home buyers in the first quarter of this year have seen their 'great buys' suddenly not looking so great. Not considering closing cost, I'd guess the majority who purchased property in the last quarter of 2007 or first quarter of 2008 who had to sell today, would suffer a significant loss. As just one example, the July '08 condo average re-sales for the San Diego Zip code 92115 showed a value drop of over 50% vs. July 2007.
A few of our recent past posts on the state of the San Diego real estate market were:
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
San Diego County Foreclosures up 125% from 2007
Jumbo Financing and the Impact on The San Diego Real Estate Market
Another Look at the June Rise in Pending Home Sales
San Diego real estate home sales