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The West remains ground zero for the pandemic housing frenzy hangover, but it’s impacting the entire country. Nationwide, the share of homes for sale with price drops hit a record high in July, according to Redfin. Idaho, saw the nation’s largest share of sellers slashing prices, at 70%. Denver, Colorado and Salt Lake City, Utah, rank right behind. Here’s a breakdown of what’s happening.
Sellers across every major U.S. metro have dropped their asking prices in July as more buyers backed out of the market in part because of high mortgage rates.
SEATTLE-- (NASDAQ: RDFN) — Nearly 70% of homes for sale in Boise, ID had a price drop in July as they struggled to match their expectations with the reality of the cooling housing market, according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Places where people have high debt compared to income and home equity are vulnerable.