Saturday, September 26, 2009

Local Sales (DQ)

The latest stats on home sales were released by DQ news (ok, I'm tardy blogging them). Basically the trend is a weak 2Q2009 home sales. Oh, the local REIC is trying to make it sound like its almost a seller's market.

It will be interesting to see how we do this winter. We're unlikely to see 2003 before late next year or early 2011 in 90505, 90274/90275, and 90277. But 90278 is almost there. A little winter weakness and it could be there...

With the huge fraction of California mortgages not being paid... its going to be interesting times ahead.

Got Popcorn?