by Wolf Richter, Wolf Street: In several markets, prices plunged even faster than they’d spiked. From the peak in May, house prices in the San Francisco Bay Area dropped by 11.6%, in the metros of Seattle by 11.3%, San Diego by 7.9%, Los Angeles by 6.0%, Denver by 5.7%; in the Dallas metro, prices dropped […]
by Wolf Richter, Wolf Street: The Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. The housing market is going through some navel gazing, as many buyers evaporated at current prices and mortgage […]
by Wolf Richter, Wolf Street: But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices we’ll only see in a few months. The first “deceleration” and “signs of a tipping point” cropped up in the S&P CoreLogic Home Price Index, which was released today. But today’s data for “April” consists […]
