It depends on who you ask. Are prices stable, continuing a downward trend, or on temporary “holiday”? The National Association of Realtors, who some may suspect of lacking objectivity in their projections, says that “prices should return to positive territory within a few months”. According to Business Week Online, Nightmare Mortgages are sending us to hell-in-a-handbasket. Finally, the New York Times ruffled some serious industry feathers with their little gem on The Last Stand of the 6-Percenters?, a must-read if you enjoy train wrecks. Look for more on that later this week as I collect my calm and my thoughts.
With that, here are the updated stats for San Diego housing sales, both the past 30-days and monthly comparisons through August. What does all of this mean? “Ask again later”.