The Housing Bubble Blog

The Arizona Republic reports on the June housing numbers. "The Valley's resale housing market took a hard fall in June, its worst performance for the month since 2000 and clear evidence that buyers sat out the start of the crucial summer selling season. The number of homes for sale and the time it...

The LA Times reports on the San Diego numbers. "San Diego County kicked off California's housing boom six years ago with dramatic price rises. Now it's the first major California real estate market to see its median home price fall below year-earlier levels, according to data released Wednesday....

A pair of reports on slower housing markets. "Just take a look out the window as you're driving around the Twin Cities and you will likely see an abundance of 'for sale' signs, just like the one that stands in front of John Burke and Heid Erdrich's St. Paul house." "'Of course I'm terrified,...

The June home sales numbers for Arizona are out. "Historically, June is one of the better months of the year for resale housing activity. However, the 5,460 recorded sales for June 2006 is truly one of the initial signs that the resale market is growing weaker." "This level of activity is down from...

The Union Tribune has the new Dataquick numbers. "San Diego County's housing market continued to lose steam in June, with median home prices posting their first year-over-year decline in a decade and sales dropping for the 24th straight month." "Last month's median home price dropped to $488,000, a...

Some housing bubble reports from Wall Street. "William Lyon Homes announced today preliminary new home orders, closings and backlog information for the three and six months ended June 30, 2006. New home orders for the three months ended June 30, 2006 were a decrease of 52% as compared to the three...

The Morning Call has this report from Pennsylvania. "In June 2005, many homes on the market in the Lehigh Valley drew competing offers and sold in a matter of weeks, if not days. A year later, it's a different story. Homes are staying on the market longer, the rate of year-over-year appreciation is...

A pair of reports from Florida. "In March, Russell Patterson bought a one-bedroom unit in the apartment-to-condominium conversion complex Oxford Place at Tampa Palms. Now, the developer has decided to turn the units it hasn't sold, about 180, back into apartments." "The rents on those units are...

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A trio of reports on the markets in the northwest. "Home sales in western Washington dropped 6.1 percent in June compared to a year ago. Brokers reported 9,413 closed home sales last month, down from 10,027 reported in June 2005. Last month's decline is the fourth consecutive month of slower sales,...

The Rocky Mountain News has this update from Denver. "More than 9,500 real estate foreclosures have been filed in the Denver area in the first half of the year, about 34 percent more than in the first six months of 2005. It's on pace to be the worst year ever in terms of the number of foreclosures,...

Some housing bubble reports from Wall Street and Washington. "U.S. Home builder M/I Homes Inc. on Tuesday said total contracts for new homes fell 35 percent and a whopping 47 percent in the-once sizzling Florida market, reflecting a deteriorating U.S. housing market." "'New contracts for the...

Inman News reports on the latest numbers from the Washington, DC area. "Washington, D.C., metropolitan area dropped significantly between June 2005 and June 2006, while prices maintained modest growth, according to statistics released Friday by Metropolitan Regional Information Systems Inc." "In...

Some housing bubble reports from the northeastern US. " Home price declines have come to Long Island. Recent data on home sales in Nassau, Suffolk and Queens show that houses in certain communities are fetching less than they did a year ago. A Newsday analysis found median sales prices in three of...

Please post off-topic ideas, links and Craigslist finds here.

Bob Casagrand has the latest on the San Diego housing market. "Second Quarter 2006, Single family detached and attached homes: June home sales were 2,947, down 33% from June 2005. The second quarter sales were 8,822 homes sold down 30% from the second quarter last year. As a matter of fact our...

The Idaho Stateman has this report on the local reaction to speculators. "Some homeowners associations in Meridian are looking to limit the number of rental homes in their subdivisions in an apparent backlash against outside investors snapping up Treasure Valley real estate." "In the past couple...

The Pioneer Press has this update on the Twin Cities. "With 'For sale' signs crowding the landscape, area home builders continue to tap the brakes on new construction. Permits for residential construction in the Twin Cities dropped a hefty 15 percent through the first six months of the year...

Some housing bubble news from Wall Street. "Homebuilder KB Home said negative trends in the U.S. housing market could persist in 2007, as inventory accumulates amid higher interest rates, according to a filing with the SEC. 'Conditions in many of the markets we serve across the U.S. have become...

A pair of reports from California. "The listing on the studio apartment at 617 Cedar Ave. boasts: 'This is the lowest priced unit in ALL of Long Beach!' One would expect to find no properties for sale under $300,000 in Long Beach, where the median price is $485,500." "In fact, there are nine...