The housing market in San Francisco tapped the brakes in June as just 28 percent of offers written by Redfin agents on behalf of their home-buying customers faced a bidding war.
The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September.
A New York City penthouse broke records selling for $238M, which is equivalent to purchasing just about every single affordable house on the market in Deltona, Fl, or half of all homes on the market.
In expensive coastal metros like San Jose, the value of land accounts for more than half of the typical home's value, far more than it does in inland areas.