The fastest-cooling real estate markets
in the US: Sales drop 34% in Seattle as
crime ravaged West Coast sees prices tumble
amid exodus of residents - and people
return from pandemic refuges
Daily Mail (UK),
by
Alex Hammer
Original Article
Posted By: Imright,
9/24/2022 3:10:50 PM
Seattle’s housing market is slowing faster than any in the country, a new study has revealed - as cash-strapped buyers increasingly shy away from home purchases.
The study, from real estate firm Redfin, ranked the nation’s most populous hubs using metrics such as prices, price drops, and supply - and found that the real estate market is cooling fastest primarily along the West Coast.
Property prices along West Coast metropolitan areas are understood to be dipping because of a glut of properties on the market, amid a mass exodus of citizens deterred by rising mortgage rates, crime, and warnings of a looming recession.
Reply 1 - Posted by:
JunkYardDog 9/24/2022 4:15:02 PM (No. 1286746)
Climate change (rising seas!) didn't sink Seattle's real estate market-it was Democratic woke/activist/stupidity that allows criminals to vandalize property in the name of democracy! The Left is consumed by hate & jealousy-all they can do is destroy, not create. Except for chaos, they're good at creating that.
9 people like this.
I’m so proud of my pokey little retirement house in an established neighborhood. Surrounded by an ocean of conservatives.
13 people like this.
Reply 3 - Posted by:
PostAway 9/24/2022 4:42:11 PM (No. 1286762)
I am married to a native San Diegan. A sizable chunk of his family got sick of watching everything attractive about their city rise in price while the degradation of the quality of life followed. And so they moved to Las Vegas. The thing that has always worried me about living in Arizona, SoCal and Las Vegas is their reliance on the Colorado River for water. Lake Mead is going through a severe drought while millions of illegals, birth tourists and foreign workers and students troop in with their water needs. The state is so poorly managed that water, always an area of serious concern, will become a crisis.
11 people like this.
Reply 4 - Posted by:
Omen55 9/24/2022 5:47:04 PM (No. 1286785)
People who sold off yrs ago & left must be feeling good.
8 people like this.
Reply 5 - Posted by:
SkeezerMcGee 9/24/2022 5:59:45 PM (No. 1286792)
Notwithstanding, those residents will continue to elect Democrats.
Political Party trumps common sense.
6 people like this.
Reply 6 - Posted by:
DVC 9/24/2022 6:05:27 PM (No. 1286797)
The bicoastal crazy zones will see the most drop since prices were particularly over inflated, and since many are finally fed up with their government's destructive policies and are just bailing out. This leaves more houses available for sale than there are buyers.....because many cannot afford the payments at current interest rates.
It should be less of a problem in the more sane central parts of the country.
6 people like this.
Reply 7 - Posted by:
snowoutlaw 9/24/2022 6:52:46 PM (No. 1286822)
Here a few months ago a house buyer often had to bid more than the asking price to even be considered and there would be many such offers. I think the prices in San Diego went up 20-30% in 2020-2021. So what of they slip back 15%? The problem for buyers isn't the price, its the higher interest rates.
5 people like this.
By the way....... how's the real estate market on Martha's Vineyard?
1 person likes this.
Reply 9 - Posted by:
scottj 9/24/2022 8:20:53 PM (No. 1286859)
People are fleeing these corrupt and violent liberal cities. Cities like Seattle and Portland will become ghost cities.
4 people like this.
Reply 10 - Posted by:
bad-hair 9/24/2022 10:18:26 PM (No. 1286924)
Told you fools to sell out 6 months ago.
1 person likes this.
Reply 11 - Posted by:
smokincol 9/25/2022 12:24:01 AM (No. 1286980)
the more cities, etc, that people abandon the easier it will be for the Chicoms to take them over and have even more territorial ownership in this country
= this is not good and is the demcommie plan for the demolition of our government and the rising of the communist state
= they weren't happy with just having demcommie political structures, they want the whole Taco
2 people like this.
Reply 12 - Posted by:
Strike3 9/25/2022 2:37:22 AM (No. 1287019)
Not one word of the fact that the rapidly cooling off cities are run by idiot democrats who let the homeless run amock and the criminals roam the streets freely on shoplifting sprees. Seattle has some of the worst and wokest people in the country pretending to run things and they love taxes.
3 people like this.
Reply 13 - Posted by:
Msquared112 9/25/2022 6:34:20 AM (No. 1287082)
Meanwhile, here in FL, we can’t keep enough houses and condos. They’re gone in a day.
1 person likes this.
Reply 14 - Posted by:
red1066 9/25/2022 9:47:05 AM (No. 1287236)
People returning from pandemic refuge? How much money do these refugees have that they could return to a home after two years? Where did they go and were they renting a place to live for the last two years and paying a mortgage as well?
0 people like this.
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