What's going on here?!

You might notice that the articles listed below (and those to come) seem to be contradictory in many ways. While perhaps confusing, that is certainly the state of the market at this time. I suppose that this is common in transitional markets of any kind - we just don't know where it's headed most of the time. Comps are only somewhat relevant guides for listing a property so we're seeing some homes holding steady and while at least half are taking reductions in price. However, those reductions have averaged less than 10% and homes are still selling close to asking.

What I think all of this mess means is that we're headed into a more stable, predictable and realistic market here and throughout California. And that's good for everyone.