The number of new and existing houses and condominiums sold during the month plummeted nearly 18 percent compared with September 2017, according to CoreLogic. That was the slowest September pace since 2007, when the national housing and mortgage crisis was hitting.


I watch markets by watching houses. I care more about ones around me.

Eight months ago I saw houses being listed for $300k more than they were bought a year previously. Flippers in full freakout.

This month I see houses being sold for $100k less than they were listed for a month previously. Flippers in full retreat.

As of two months ago, the Seattle market was publicly and officially down 15% year over year. As of this week, the Seattle market is privately and unofficially down 10% since last month.

Shit's gonna rip.

posted by francopoli: 111 days ago