Our favorite doomer has published some interesting stats about the Bay Area:

But he is looking at one month only, and comparing to one year only, 2015, which was hot. We’ll see how it plays out.

Yesterday around here we saw a 9% increase in NSDCC new listings and a 9% drop in sales year-over-year for the first two months of 2016 – which looks rather tame compared to those Bay Area numbers.

We can break it down further too.  The lower price ranges have been in a tight range for the last two years, both in the number of active listings and average list-price-per-sf. There certainly has been more new listings this year in the Above-$1,400,000 range, but unless there is a major panic, they will wait until someone comes along:

NSDCC Inventory in the First Week of March

Mark says prices in key STEM-centric markets will drop 40% – but if sellers can’t get their price, they are more likely to wait, than dump.

Higher-end sellers are just testing the market, and if they are desperate to sell, a few might lower their price in the summer.  But most will wait it out for months or years – they’re not going to give it away!

Link to Mark’s full article:

http://mhanson.com/3-11-hanson-dying-unicorns-still-leave-hoof-prints-just-know-look/