It’s like blossoms in a drought… you see them, but just a lot fewer than normal. I noticed it a while ago: the corner that is normally full of poppies this time of year is barren except for a few wilted stalks. The trees are showing fewer flowers and the tree pollen is plain old lackluster.

The housing market is showing the same signs. Few listings, well below average sales but prices are still pushing higher in the Bay Area. It’s not to be unexpected with a limited supply. Prices will rise. See the Bay Area housing trends page above for the most recent data on housing.