Data from Redfin shows 18% decline in homebuyer demand year-over-year (yoy) and an 18% decline on mortgage applications yoy. Median home prices are down 0.7% from the four weeks ending June 19th while the number of active listings climbs.
Analyst Comment: Everything points to real estate cooling off pretty fast. Keep in mind real estate typically move mush slower than other markets, so a real estate bubble pop may not happen for many months still.