Market overview

What's happening in this local housing market? Help coauthor a quick summary here:

Sales trend:

Price trend:

Inventory:

Housing market forecasts:

PMI U.S. Market Risk Index: Summer 2006

San Francisco-San Mateo-Redwood City, CA has a 56.0% chance of a decline in home prices over the next two years according to PMI Mortgage Insurance Co., one of 13 markets nationwide that "face a 50% or greater risk" of decline.

Current market conditions:

Global Insight / National City Crop. Valuation: 2006/Q1

$779,700 median sales price

40.8% overvalued

Classification: One of 71 "Extremely overvalued" housing markets nationwide

Source: Overvalued Housing Market? Depends Where You Live

Where are prices falling in the current market?

Past housing price corrections:

Price decline: 11%

Duration: 4.75 years (19 quarters)

Period: 1990Q1-1994Q4

Overvaluation prior to price correction: 26%

Valuation peak: 1989Q3

US News & World Report: Housing bubble correction could be severe

Where did prices fall in the last price correction?

Local bubble blogs:

Boy in the Big Housing Bubble

Southern California Real Estate Bubble Crash

The Mess that Greenspan Made

Ideas for this wiki (your comments are welcome)

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