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The Kobeissi Letter @KobeissiLetter on x 948.7K followers
Created: 2025-07-13 20:37:39 UTC
BREAKING: The median US condo sale price declined -XXX% YoY in May, to $354,100, marking the second-largest decrease since at least 2012.
The only time condo prices dropped by a larger amount was in April 2023, by -2.9%.
Meanwhile, condo sales plunged -XXXX% YoY, the most since June 2024, and more than X TIMES the decline in sales of single-family homes, which fell by -3.7%.
Overall, combined sales of condos and single-family homes fell to their lowest level for any May since 2020.
This comes as there are ~80% more condo sellers than buyers in the market, according to Redfin.
We are seeing some early signs of a housing cool down.
XXXXXXX engagements
