Without Conviction

Securities brokers like to say price movement without much sales volume is a market moving “without conviction.” We seem to be in that mode in the Bay Area home market right now. Sales volume dropped in September and prices are meandering. (See https://graphicrealestate.wordpress.com/sf-bay-area-housing-trends/ above.) The median home price in the Bay Area actually dropped for the second month in a row to $530,000 in September and it is 5.7% below the July peak. Sales volume i20131005-2pac_04_DSC7346n September was up 4.2% on a year-over-year basis but it is about 5% below the average level for the prior 12 months. Things typically slow down in the latter part of the year so a drop in sales volume is not a reason to walk off the end of the nearest pier.

About JN Real Estate Appraisal & Valuation Services

Professional real estate appraiser Amateur photographer
This entry was posted in SF Bay Area Housing Trends and tagged , , , , , , , , . Bookmark the permalink.

2 Responses to Without Conviction

  1. Dawn says:

    In the mortgage business myself. Volume dropped last month, a bit early than what we’re used to. But agree, it’s all cyclical. It will be back…

    • So many years so many cycles. Just hope we don’t find ourselves in another man-made disaster like 2008. Enjoy your photos and especially the fall colors since I don’t get too much of that kind of foliage where I live. Good shooting. Joe

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s