That's down 3% just between September and October! Wow.
And the result?
A greed-driven divergence between List vs. Sold price per square foot.
That's what happens when all but the dumbest, most delusional sellers take their ball and go home and wait for the market to "return to normal." Current sellers know there's no quality inventory out there and it makes them cocky and emboldened.
As we enter the winter months we'll see if that approach pays off.
I live in the San Francisco area. House down the street was listed at $900K, move in ready.
ReplyDeleteThought it would sell in a couple of weeks.
Four months later, seller would not drop price, so they just took it off the market.
Bubble pricing mentality is alive and well.
Gee, those increases in the red are awfully close to the dates of all of those home buyer credits.
ReplyDeleteWelcome back, we missed you
ReplyDeletewhat is the area/zip code for these graphs?
LBCee,
ReplyDeleteThat's all of LB.
Yup extend, pretend, kick the can down the road, and hold up those foreclosures. RE in the LBC (and the rest of California) will be locked in zombie-listing purgatory for years to come. Real price appreciation may come back in about 2018 or so at this rate...
ReplyDeleteYeah, if there's anybody left out here!
ReplyDeletehttp://www.foxnews.com/us/2010/11/16/report-foreclosure-mess-threaten-banks/
ReplyDeleteThanks for your hard earned tax funds suckers!
ReplyDeletehttp://www.lbpost.com/news/ryan/10682