Some months we are going to have a set of homes sell that, as a group, were inferior to previous sets and won’t pull the same prices.

Or the market is falling apart, take your choice!

The non-seasonally adjusted CSI for San Diego showed -0.32% decline in October, the first decline all year (the seasonally-adjusted number was +0.2%). But it isn’t the end of the world – last year there were four times that the NSA number declined, month-over-month.

Here are the San Diego NSA changes for 2015:

The national headlines conveniently focused on happy talk, and reported the Y-o-Y stats, and the seasonally-adjusted month-over-month calcs.  No mention in this article that SEVEN of the 20 cities showed a M-o-M decline of the non-seasonally adjusted numbers:

http://www.bloomberg.com/news/articles/2015-12-29/home-prices-in-20-u-s-cities-rose-at-a-faster-pace-in-october