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, Wolf Street: California special: Pending sales collapse by 30%, prices begin to “moderate,” San Francisco condo prices decline year-over-year. Sales that closed in May of previously-owned single-family houses, condos, co-ops, and townhouses fell by 3.4% from April, based on the seasonally adjusted annual rate of sales, and by 8.6% from a year […]
