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These are the fastest cooling real estate markets in the U.S.
(NEXSTAR) – Amid rising mortgage rates and fears of a recession, the once-torrid real estate market has cooled dramatically in some U.S. cities. According to a study from Redfin, the top three and five of the top 10 are all located in California. San Jose, California, where the median sale price is $1,560,000, cooled the fastest from February 2022 to May 2022. Sacramento, California ($610,000); Oakland, California ($1,070,000); Seattle ($850,000); Stockton, California ($576,000); Boise ($550,000); Denver ($612,000); San Diego ($875,000); Tacoma, Washington ($575,000); and San Francisco ($1,620,000) round out the top 10, respectively. In Sacramento for example, the median price fell nearly 25%, year over year. Part of the reason…
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Market cooling off a bit, but still ‘red-hot,’ realtor says
Average home sale prices in the Portland area dropped in June PORTLAND, Ore. (KOIN) – Portland’s housing market is showing signs it’s cooling ever so slightly. But even with recent changes, a local real estate agent said it’s still a seller’s market and homes are still being snatched up quickly. “You can only burn white-hot for so long,” explained Drew Coleman, founder of Opt Real Estate in Portland. He described the city’s real estate market as burning “white-hot” for the last couple of years and now, he said it’s “red-hot” – meaning it’s still competitive and fast-paced, but not quite as fast and furious as it had been. ‘In shock’:…
