The Housing Bubble Blog

The Denver Business Journal reports from Colorado. "Homes sales in the metro area fell in 2006, as did the total volume of residential transactions. Perhaps a more telling figure is the percentage of the original listing price that single-family detached homes sold for in December: just 70 percent....

Some housing bubble reports from Wall Street and the New York Times. "Housing bulls took heart on Dec. 27, when the Commerce Department reported that sales of new one-family homes rose 3.4 percent in November from October. But those who think that the worst may be over for the housing market should...

The Herald Tribune reports from Florida. "In the fourth quarter, there was about $2 billion worth, or more than 3,600, unsold condos in the Sarasota Multiple Listing Service alone. In October, only 83 were sold, most of them for less than $350,000." "That monthly absorption rate amounts to 2.28...

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The Valley Voice reports from California. "Tulare County Association of Realtors numbers show that the inventory of existing homes for sale has been coming down for the past three months for the first time since late 2004. The numbers had ballooned from just 400 residential listings on the...

The Portsmouth Herald reports on Maine. "After a tough year in the residential real estate market, industry representatives along the Seacoast say they are optimistic about 2007. 'Values have fallen, in some cases, to what would have to be described as bargain levels,' said John Rice, chairman of...

The Island Packet reports from South Carolina. "The area housing market saw a more than 20 percent drop in the number of single-home sales in 2006 compared to 2005. According to the MLS data, which tracks sales in southern Beaufort County and Jasper County, single-family home prices fell 9.3...

What do you see in your local housing market this weekend? Builder incentives? Auctions? How about price reductions? "Some of you may remember a listing a while back, that picture-perfect executive home out in Wingfield Springs that my clients purchased for $595K eighteen months ago at the top of...

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The Times Herald reports from California. "If you're looking to buy a house in Solano County, now may be the best time, a home-building industry spokesman said Friday. The California Building Association's Charlie Carson said the first part of 2007 will be much like 2006, with building starts down...

Readers suggested various costs that need to come out of home prices. "What 'premiums' need to pop out of the price froth in order to restore affordability? Here is a partial list:" "1. Appraisal fraud premium (needed, for instance, to pay for builder incentives plus the current market value of a...

The Seattle Post Intelligencer reports from Washington. "For the sixth month in a row, Seattle had more homes on the market, fewer sales and higher prices than the previous year, according to new statistics for December." "But the median house price of $420,000 was down from the previous month for...

A housing report from the Arizona Republic. "Mark Wray's Glendale home has been on the market for almost a year. Andy and Jill Leebrick of north Phoenix put their 'for sale' sign up nearly five months ago. After more than a year, Charley and Gerda Zenith finally are poised to sell their home in...

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It's desk clearing time for this blogger. "The housing slump hitting New Hampshire is also hitting the state budget. Economist Russ Thibeault says fewer properties are selling, and those that do sell are selling for lower prices than they did last year." From Pennsylvania. "The banner advertising...

The Press Democrat reports from California. "New home construction in the Bay Area, including Sonoma County, will stay flat in 2007, according to a forecast issued Thursday by the California Building Industry Association. 'Last year, we said it's time for a breather,' said said Alan Nevin, an...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Freddie Mac, the second-largest source of money for U.S. home loans, reported a $550 million net loss for the third quarter and likely had similar results in the fourth quarter as lower interest rates reduced returns on its...

The Bradenton Herald reports from Florida. "When a job opportunity led Heritage Harbour homeowner Richard Brody to move across the country, he knew selling his house would be rough. 'By the time I listed my home, the market had already gone sour,' Brody said." "The Heritage Harbour Master...

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