Southern California suffers its worst housing slump in over a decade

  • 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.
  • The median price of Southern California homes sold in September, $505,000, was still 3.6 percent higher than it was a year ago. That was the lowest annual gain for any month in more than three years.

So much depressing news. No more sure to go up RE news?
Allow me :slight_smile:

36%20PM

14%20PM

30%20PM

Grave dancer? :dancer:

SF ppl are moving to AUSTIN

LA people are moving to Dallas.

Nobody is moving to Houston?

https://www.google.com/amp/s/www.kvue.com/amp/article%3Fsection=news&subsection=local&headline=california-homebuyers-continue-coasting-into-austins-real-estate-market&contentId=269-608008889

https://www.google.com/amp/s/www.kvue.com/amp/article%3Fsection=news&subsection=local&headline=california-homebuyers-continue-coasting-into-austins-real-estate-market&contentId=269-608008889”

Austin home price increased only 13k y/y.

City of Austin

• New listings for single-family homes were down by 11.3 percent year over year. Active listings were down 11.8 percent, which is partially explained by the fact that pending sales were up 4.6 percent.

• Single-family homes were spent an average of 38 days on the market, down four days from September 2017.

The median sale price of single-family homes increased from $353,500 to $365,000.

• Growth in home sales dipped slightly year over year, falling from 708 homes sales in September 2017 to 702 last month.