Bubble watch: California home prices lead US declines off record highs

Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead.

Buzz: California cities are leading a brewing cooldown in home prices nationwide.

Source: My trusty spreadsheet analyzed two recent home price reports: Black Knight’s report on median sales prices for July in 50 big U.S. markets, and Case-Shiller’s price indexes for 20 metro areas for the three months ended in June, which tracks price changes of individual homes sold.

The trend

Neither of the valuation math was kind to California.

Six California markets ranked among the worst performers in Black Knight’s tracking of price falls from springtime peaks. Case-Shiller found six down markets nationally for June —

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