It doesn’t take a rocket surgeon to see that this is likely a result of the subprime lender implosion and resulting tighter lending standards.
On a side note, do the realtors (sdrealtor and SD Realtor, for example) and appraisers (Bugs…) here see many of their peers switching professions? With closings down almost 40% from 2004 levels I have to believe that people are fleeing in droves. Mathematically there just isn’t enough revenue to support the 2004 folks plus all of the new entrants.
