patrick.net

It's a tragedy when you can't even get a miliion for your 900 sq. ft fall down crap shack any more. What has the Bay Area come to?

How much does rate of home sales correlate to price of homes. I would think the rate of home sales would be highly correlated to time of year. For example, if you were just closing on your house now, your kids would have been in school limbo for the last month.

I suppose a slowing rate of home sales adjusted for season or year-over-year could presage falling prices, but the article doesn't seem to say that.

If the silicon valley, homes don't tend to sit for long, but in other markets (was checking out waterfront houses in Florida) some houses sit for months or longer. In those long-sitting markets with rentals, I would expect waves of sales coming and going depending on season, economy, and financing, all of which might or might not correlate to the actual selling price.

My shack here in 94087 was up about $30k last month, so what do I care! :-)

SunnyvaleCA says

How much does rate of home sales correlate to price of homes.

I’ve always wondered this myself...

I’d like to see what the data shows beyond the simplistic “less supply, equal demand, higher price” argument

BayArea says

SunnyvaleCA says

How much does rate of home sales correlate to price of homes.

I’ve always wondered this myself...

I’d like to see what the data shows beyond the simplistic “less supply, equal demand, higher price” argument

This is the catch about some of the posters on Patnet including this poster. They share shallow housing articles without an in-depth analysis. It’s basically garbage in, garbage out, and they wonder why people don’t respond to their posts.

BayArea says

I’d like to see what the data shows beyond the simplistic “less supply, equal demand, higher price” argument

Actually, if there rate of sales is lower that might actually mean there are more houses up for sale (because they stay up for sale so long), so there's actually more supply?

I'm with E-man above... the original story seems like a shallow housing article. If it were a positive one about housing then I'd suspect its just the real-estate cartel drumming up business. In this case, it's a downer article, so maybe just the newspaper needing to fill another page.

You may be right... all signs lead to the article is shallow shit.