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.