The last month of ’07 was not exactly kind to single family homes on the market. Here’s some data from San Francisco Schtuff:
You’ll note that the number of districts that show appreciation in the median house price is about even with those whose median went down. The same goes for DOM. What this says to me is that here we have proof that in some places in SF, real estate was not the sure fire path to wealth we’ve often been told it would be. Submedian agrees with my assessment, as evidenced by the post “Holy Crap, It’s Getting Rough Out There!” I’ll leave with a quote from that blog, because I couldn’t say it better:
We have a large number of option resets headed our way, and a possible recession to deal with. There is a storm gathering here and a lot of people are going to get hurt. Be careful out there!!