The Housing Bubble Just Burst in 4 Cities
Foreclosures are flaring up again, with Florida, Delaware, and Nevada leading a new wave of distress.
Even as mortgage rates tick lower, buyers are still sitting on the sidelines—letting inventory pile up and giving investors more leverage.
Prices in 15 major cities have already dropped 10% to 24%, wiping out the pandemic gains and exposing cracks in overvalued markets.
This is the early stage of a buyer’s market built on forced sales and shrinking confidence.
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The 15 Bigger Cities with the Biggest Price Declines of Single-Family Homes (-10% to -24%) through September
Prices of mid-tier single-family homes in 15 bigger cities have dropped by 10% to 24% through September from their respective peaks in 2022 or 2024. The entire pandemic price spike got wiped out in 4 of 15 cities.
The Fed Raises Alarm Over ‘Deterioration’ in the US Housing Market
While the Fed cut rates in September, a decrease in borrowing costs isn’t necessarily a silver bullet to revive the housing market. Many homeowners are already “locked in” to cheap pandemic-era mortgages, which have contributed to housing supply problems.
Home Buyers’ Strike Drags on Relentlessly, Despite Lower Mortgage Rates
Demand in the housing market plunged three years ago, after home prices had exploded over the preceding two-year period of a mega-FOMO-driven frenzy, fueled by mortgage rates the Fed had recklessly repressed via QE to way below the rate of inflation.
Higher For Longer is Still Around: What Does it Mean?
CRE investors continue to behave as if the economy remains in a higher-for-longer environment. Lenders want NOI stability, robust sponsorship and conservative leverage. Meanwhile, borrowers are opting for shorter loan terms, tighter spreads, and stricter covenants.
Lower Mortgage Rates Extend Housing Momentum into Fall (September market report)
The number of buyers markets more than doubled, rising from six to 15 over the past year. Zillow’s market heat index shows the strongest buyer’s markets are Miami, New Orleans, Austin, Jacksonville and Indianapolis.
Top 10 Housing Markets with Biggest Annual Profit Margin Gains in Q3 2025
The typical home sale generated a $123,100 profit. This represents a 1.9 percent increase from the previous quarter but still 3.5 percent below the level seen in the third quarter of 2024.
