California Turning

Many sources are reporting a potential turn in the hot California real estate market. Usually it takes the form of fewer homes sold even as prices continue to rise. Such is the case with a bit of news from DataQuick Information Systems, which is an information service. In the 6 southern California counties that include San Diego and Las Angeles, the firm found the number of homes sold in January fell 4.9% from the same month last year.

Then there is this data (see the February 11th post) which the good Professor has compiled on the market in San Diego. And here is another excellent data source put together on the San Francisco market. Both seem to show pockets of emerging weakness in what were the highest flying regions.