Wednesday, June 28, 2006

California Canary Showdown: It's a Tie


May 2006
Sacramento County: 0.00%
San Diego County: 0.00%

14 comments:

Happy Renter said...

People are definately negative towards real estate now.

I'm hoping the panic will begin in August when population adjusted inventorys are at record highs, YoY prices show declines, and those that have had houses on the market for 6 months to a year start facing the winter slowdown.

Maybe the fed will do a half point hike tomorrow and really get the ball rolling.

Happy Renter said...

The median price in Sacramento county is down more than $25,000 since august.
More "paper money" has been lost in Sacramento this last year than was lost in Sacramento during the 2001 Tech bust.

surfer-x said...

This graph will be interesting to see next month and moving forward as it will serve as a clear depiction of a picture-perfect "soft landing".

Agent Bubble said...

I'm looking forward to the fall months as well, especially with the anticipated rate hike tomorrow. I lost a client recently who didn't like the fact that I told her not to buy a condo right now. She went ahead and bought one through another agent. Even got a 5/1 loan, 100% financing, INTEREST ONLY at 6.75%. We'll see who has the last laugh...

Anonymous said...

Prices will drop back to 2002 levels.


The interest rates are at about the same level as they were in summer 2002.

Income levels haven't increased sufficiently enough to support the rapid run up in prices.

Just because a developer is asking $600,000 for a crackerbox in South Elk Grove doesn't mean that it is worth $600,000!

What a bunch of dumbbells! I don't think the yokels in Sacramento understand economics.

Just like the idiot in the White HOuse. I'll go spend like crazy on the war and give tax breaks to my rich crony friends like Paris Hilton.

Anonymous said...

Getta load of Divot Maker's client.



What an idiot!


She is probably one of those bimbos that paid $300,000 for a two bedroom condo in Elk Grove.

Does she know what fiscal responsibility and foreclosure means?

She better keep her massive SUV that she bought on credit away from the REPO Man cuz that is the only place that she will be able to call "home".

Sheez, what a loser!

Max said...

Great graph! Looks like she'll be coming in for a nice soft landing! Can't wait to see this updated with the June numbers.

Anonymous said...

0%?

Huh?

SD = +0.4% overall and Sacto = +0.8% for SFR's and +4.8% for condo's, no?

Lander said...

This graph is based on the median prices of all sales (SFHs, condos, & new homes) provided by DataQuick. Click on "May 2006" to go to dqnews.

Anonymous said...

I see where you got it, but DQ's own info is at odds with itself. Example for SD:

http://www.dqnews.com/RRSCA0606.shtm

More sales, lower median, and +0.4% YoY delta.

Oh well.

Lander said...

Not sure why there is the difference. On the face of it, is seems they are tracking the same thing. Where did you get the Sacramento numbers?

Sacto = +0.8% for SFR's and +4.8% for condo's

Anonymous said...

Here.

http://www.sacrealtor.org/documents/about/statistics/may06.pdf

I guess it's just where people aggregate information from. I really don't know, but this sort of difference is pretty common.

Lander said...

The Realtors Association's data only includes MLS sales. I believe DataQuick gets its numbers from government records, which includes all sales whether they were sold with the help of a Realtor or by the owner.

Anonymous said...

ok, that makes sense on that one, but as to the differing numbers within dq's own system - that is odd.