thebubblebuster.com Blog

Greater New York City median prices continued to rise in the fourth quarter, but slowed substantially the rapid price increases of years past. Now with inventories increasing and sales slowing there are fewer bright spots and increased concern. Will prices begin to fall in the Big Apple or will the city enter into a long period of market stagnation?

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Minneapolis housing prices suffered their 2nd largest real price decline in 2006. Additionally, the nominal price decline was the city’s first since 1983. However, Minneapolis affordability ratios remain favorable and their appears to be little indication of a coastal-style bubble. Will this then translate to 2007 price gains or will the trend of ‘06 continue?

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Detroit median home prices stagnated in the 4th quarter and remained at year 2000 levels in real terms. The slide should come as little surprise as Detroit continues to struggle with job losses, foreclosures and poor consumer sentiment. The one bright spot has been increasing affordability, as Detroit remains one of the most affordable US metros. Will good affordability ratios translate to price gains or will Detroit continue to see to rustbelt declines?

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Dallas median housing prices experienced a nasty 4th quarter which wiped out gains of the prior 6 years. Yes, today’s real prices are now equal to those of 2001! Due in part to this negative pricing trend, affordability ratios are extremely good as Dallas has some of the least expensive housing in the country. Will this low cost housing lead to a near term boom in prices or will Dallas continue its 4th quarter trend?

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Tampa median housing prices fell in the fourth quarter, but still resulted in nominal prices gains of nearly $16K, the 3rd best year on record. Despite the growth over the prior 12 months concern is mounting over increased inventories, continued building and further weaking of prices. Will this negative trend continue into 2007 or will Tampa rebound fairly quickly?

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San Luis Obispo real median prices have fallen $30K in past 3 quarters turning 2006 into the worst year on record. Despite the 6.5% decline from the peak, buyers still aren’t rapidly entering the market showing indications that the downturn will last through at least 2007. When will the market turn and begin to once gain move higher, check inside for all the details…

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Reno real median home prices fell nearly $20K in 2006 experiencing their largest drop on record. Nominal prices also gave back some of the insane gains of 2003 - 2005 and affordability is beginning to head back towards the local historical norm. Will the price drop of 2006 now provide room for growth in ‘07 or will this year look even worst than last?

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Honolulu median home prices saw median nominal prices fall $15K in the fourth quarter. Despite the large quarterly price drop, the year finished nearly $50K higher. However, this type of swing is nothing new to Hawaii real estate. Just look at the chart on the left to see the huge swings of years’ past. Get the full story to find out how far and how long will this new downturn swing go?

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Baltimore median housing prices nearly $10K in the fourth quarter and for the year prices posted their weakest performance since 2000. However, despite the ugly quarter, median nominal prices still rose $12.8K for the year, but the current downward pressure could easily wipe out that gain in just a few months. Will Q1 of 2007 look even worse or will Baltimore housing begin to experience a bit of a bounce?

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Visalia-Porterville median housing prices fell in the fourth quarter, but 2006 still resulted in the fourth best year on record. The year however was a far cry from the insane 31% growth of just a year ago. Will home prices in 2007 experience another year of above average growth or will home prices continue their Q4 trend and head back towards their real historical mean?

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