Keep the updates flowing sdrealtor – it’s fascinating stuff.
To be honest I’m not *that* suprised at the market’s resiliance this early in the cycle.
Right now a lot of people still don’t believe in the bubble and are buying houses – buyers are standing firm on their prices and waiting on the “spring market” to sell their houses.
Which is fine – but it’s not going to clear that inventory before winter that’s for sure – and as the median YOY price trickles down towards 0 or negative it’s going to make more and more buyers hold off.
I suspect panic will start towards the winter slowdown when all that inventory sitting there realize that the market is down YOY and they “have” to get out before winter or more then likely they’ll be waiting for next spring – when prices are constantly falling.
