* 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.
Will "TIE" fly like it did before the split few months back ?
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