Housing continues to plunge
* Home sales dropped 10%+ YoY
* Home prices dropped 3.5%
* Sales flat from September (up 30,000 units)
The RE industry is so desperate that they tried to spin this as good news ("look, we're up since September - housing is roaring back!")
Some sample Bay Area prices:
* Napa prices down 9%
* Sonoma down 6%
* San Mateo down 2%
* Santa Clara up 2%
* Marin up 3%
* San Francisco down 1%
In other words, where home builders are active (Napa, Sonoma) prices are crashing.
Elsewhere, sales prices are virtually flat.
Unit sales continue to be down as well: 22%~35% down (SF and San Mateo being the exceptions - down only 13%). This is the same as 2001 levels.
I tend to discount the pricing information because it is deliberately manipulated. Actual prices are a lot lower than reported. But the sales units are not distorted, and that shows the true state of affairs.
* Home prices dropped 3.5%
* Sales flat from September (up 30,000 units)
The RE industry is so desperate that they tried to spin this as good news ("look, we're up since September - housing is roaring back!")
Some sample Bay Area prices:
* Napa prices down 9%
* Sonoma down 6%
* San Mateo down 2%
* Santa Clara up 2%
* Marin up 3%
* San Francisco down 1%
In other words, where home builders are active (Napa, Sonoma) prices are crashing.
Elsewhere, sales prices are virtually flat.
Unit sales continue to be down as well: 22%~35% down (SF and San Mateo being the exceptions - down only 13%). This is the same as 2001 levels.
I tend to discount the pricing information because it is deliberately manipulated. Actual prices are a lot lower than reported. But the sales units are not distorted, and that shows the true state of affairs.
posted by Andrew at
8:50 AM
1 Comments:
Will "TIE" fly like it did before the split few months back ?
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