“I’d say your characterization of the market through the 90’s until now is pretty spot on, CA renter, especially with regard to when it should have peaked.”
Many of us who had houses in the area thought the market had peaked in 2001. Much of the demand in my area (92024) during the 1999-2000 time frame was fueled by the stock bubble (a lot of Q money). By 2001 the nasdaq crashed and then 9/11 hit. I remember distinctly a house near my ‘hood that was listed close to 2 million. They had two offers on it (probably somewhat lower than 2M) but the buyers got spooked after 9/11 and walked. They ended up selling the house for 1.45M in spring 2003.
“Just ran MLS numbers and the propertyshark numbers look lousy!”
Thanks for posting the corrected numbers. Maybe property shark doesn’t include new houses? Never mind pshark shows a higher volume in 2009 of 575 versus the 481 on the MLS so it must be something else.
