San Francisco Area House, Condo Sales Drop 25 Percent

http://bloomberg.com/apps/news?pid=20601087&sid=airGZ66qbhdA&refer=home



" The number of homes sold fell in all nine Bay Area counties, dropping the most in Solano, which had a 43 percent decline, and Contra Costa, which had a 36 percent fall, DataQuick said.

Foreclosure resales accounted for 4.8 percent of last month's Bay Area sales, up from 4.5 percent in July and 1.2 percent a year earlier. Foreclosure resales haven't affected prices on a regional basis, DataQuick said.

Southern California Falls

In Southern California, home sales plunged 36 percent last month, DataQuick said yesterday. As in the Bay Area, it was the lowest number of homes sold in an August in 15 years. "

 

It only really becomes a "problem" when prices start to drop.

 

When the car engine runs out of gas ... the average MPH drop pretty rapidly.

 

hmm interstesting