“Mr. Miller, what are you smoking over in Manhattan and can I have some of that? From Bubble Markets Inventory Tracking”- http://bubbletracking.blogspot.com/
“This article on risky real estate markets was featured on the Yahoo Frontpage just a few days ago, here’s a quote on San Diego:”
“In cities like San Diego, one of five major metros where transactions rose, that’s good news, assuming it’s sustained. What makes transaction volume a good indicator is that it shows how easy it is for people to get loans and how much confidence there is in the market. If mortgages are available and buyers have some faith in the value of the home, they’re more likely to buy.
San Diego’s present conditions suggest that over the next half-year, prices may start to rise. That’s because “there’s usually a three- to six-month lag between when transactions go up and prices go up,” says Jonathan Miller, president of Miller Samuel, a Manhattan real estate appraisal firm.”
