Former Terrapin Basketball player, now all things PEOPLE for @parcl and @parcllabs @parcldevco #DEFI #REALESTATE
Joined April 2009
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Dave Neal retweeted
1 in 5 homes listed in Washington, DC today have an asking price below what the home owner bought it for.
Nationally, this is 6.7%.
Why are so many DC residents willing to walk away at a loss?
Dave Neal retweeted
JUST IN: Price cuts keep climbing to new highs. Today, nearly 45% of active listings have had a cut, up from ~40% in June.
Several states are now above 50%:
Oregon: 53.8%
Colorado: 52.7%
Washington: 51.6%
Indiana: 51.1%
North Carolina: 50.2%
Desperation is setting in.
Dave Neal retweeted
There is an exodus of vacation homes within the US housing market right now.
For the last 5 months, for every vacation home purchased, 2 are being sold.
These units are transitioning from vacation assets into primary residence or long term rentals.
The bigger question is what is causing Americans to unload vacation properties at such a high rate?
Dave Neal retweeted
There’s no earnings call for a housing market, but there’s plenty to research.
If you already follow US stocks, housing has its own fundamentals to get to know: who’s buying, how much is being built, and how quickly homes are selling.
@ParclLabs lets you follow those signals across US housing markets.
On Parcl V4, you can take a long or short position on listed US home-price indices, without buying a property.
Dave Neal retweeted
Oregon, Colorado, and Washington are in a league of their own.
Each of these states have more than 50% of homes undergoing price cuts right now.
Oregon leads with 53.4%.
The US is at 44.2%.
It looks like Indiana is about to join this special crew currently sitting at 49.9%.
Dave Neal retweeted
Oregon leads the country as the state with the highest share of home sellers cutting prices at 52.8%.
However, there are many metros within the state well above this.
Klamath Falls: 56.9%
Prineville: 55.8%
Albany: 55.4%
Coos Bay: 55.3%
Bend: 55.3%
Newport: 53.6%
Portland (spills into WA): 53%
What's happening in Oregon?
Dave Neal retweeted
NEW YORK: Shocking that NYC is the third most stubborn housing market in the country
It’s the only major metro in the top 10. Chicago is next at #16, with home prices roughly half NYC’s. Some serious pricing power
New York or nowhere?
Dave Neal retweeted
He steered the program out of the darkness of the Jordan McNair tragedy, made Terps Football respectable for a short time, and was a great ambassador for MD. But it was time. Locksley out at Maryland after 8 years. Now comes the most important decision for UMD in a generation. 🐢
Dave Neal retweeted
Personal note related to #Terps football news today: When I got laid off from @postsports, Michael Locksley was among the first to reach out offering support. It was so uplifting during a really crappy time for me professionally. I'll always be grateful for that kindness.
Dave Neal retweeted
Update - Delray going vertical and at all time highs. +24%. Last week it was +19%
Dave Neal retweeted
Traders on @Polymarket are betting San Francisco home values will fall further by year-end
In Polymarket’s quarterly market for the San Francisco metro, the chance of home values ending the year below $1.062M has jumped from around 25% yesterday to around 60% today
@ParclLabs’s latest benchmark is about $1.107M. Getting below $1.062M would mean another drop of just over 4% by December 31.
Dave Neal retweeted
This Washington, DC property near Rock Creek Park was purchased on June 15 this year for $2,500,000
11 days later it was listed for sale at $2,200,000
Today, the current asking price is $2,100,000
Why would you sell a home at a loss within 11 days of buying it?
Dave Neal retweeted
Texas remains the accidental landlord capital of the US
14.5% of single-family homes for rent in Texas were listed for sale first: the owners tried to sell, then put them up for rent
That's the highest share of any state
Dave Neal retweeted
The growth in home sellers price cutting in Oregon has been prolific since April.
Oregon leads the entire country on the share of for sale homes undergoing price cuts at 53%.
In the last 2 days it set this 53% milestone.
In April, this rate was under 40%.
Home sellers in Oregon are actively price discovering to find buyers.
Dave Neal retweeted
UPDATE: For the first time all year, every market in the top 5 major housing markets are officially in fire sale territory.
What is the motivated seller index? It's a score looking at every home seller in the market - are cutting prices, how fast, and how deep.
It's a score b/w 0 and 10. 10 is the max.
Nationally, that metric is 5.87. In these 5 markets:
Kingsport, TN: 7.87
Indianapolis, IN: 7.66
Austin, TX: 7.59
Asheville, NC: 7.54
Eugene, OR: 7.51
This usually leads prices by 8 weeks.
Dave Neal retweeted
PENDING HOME SALES: Way worse than expected. -7.3% m/m in Sept vs. -0.5% consensus. -11.3% y/y. West/South down double digits y/y
~44% of listings have price cuts. To no avail. Markdowns are only ~7%, not deep enough
Prices need to come down a lot more for buyers to step in
