Riverside (-4.2%) counties declined from last July. The San Francisco Bay Area experienced the largest drop in pending sales in July, falling 11.5% on an annual basis. San Francisco and San Mateo counties, two of the state’s most expensive markets, were both down double digits – 11% and 21.4%, respectively. Santa Clara County, where home prices also are at all-time highs, saw pending sales decline 9.8% from a year ago.
Sales volume is lower, because less people are selling. They did a great job writing a misleading headline. I bet a ton of people will quote it. This is exactly how the public ends up thinking it’s informed but is wrong.
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Sometimes, it’s better to stop on your way up to see how far and hard you are going to fall down. Don’t be too confident nor too negative.
RE and the stock market are driven by speculation on future events and actual incidents. And they are also driven on confidence. So, news like these ones can have a disastrous effect if you add hysteria and the fact that the stock market is going up and down thanks to the instability in the white house where whatever that was expected is not coming to be a reality.
I also remember when we passed the last recession. On the other forum we were trying to guess if the homes gaining some equity would push the hundreds and thousands upon thousands of people with homes under the water to sell their homes. We saw the opposite.
Since I don’t have anything to gain or lose, well, equity on my home that is, whatever I say you won’t care. 
Most people dont make money because they are afraid of losing…Dont over leverage, but a 52% chance of a recession in 2 two years is nothing to worry about…There is always a 50% chance of recession. .If that bothers you, don’t get out of bed in the morning. .Risk is everywhere…But the risk in doing nothing is worse…
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Here’s a more useful analysis.
More reported doom and gloom…
If true then rents should go up. People have to live somewhere.
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Shiller says it’s not a bubble yet
“This could be the very beginning of a turning point,” said Robert Shiller, a Nobel Prize-winning economist who is famed for warning of the dot-com and housing bubbles, in an interview. He stressed that he isn’t ready to make that call yet.
They got frustrated after losing out on 2 bids?
Because he is in escrow on his 5th place!!!
NYC, SF and DC falls. Time to buy Phoenix, LV, SLC
S&P CoreLogic Case-Shiller data hint at the softening. The 20-city index of property values rose 6.6 percent in the 12 months ending in April. After seasonal adjustments, the gauge posted its smallest monthly increase in 10 months, with New York, San Francisco and Washington reporting declines.
all 3 has rent control, prop 10 effect?
say NO to prop 10
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Go for Elko 
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stuff is definitely slowing down in Pleasanton, after the highest price history home sold in June in my neighborhood, everything else that has been listed since has been sitting for 1+ months or pulled completely…I’m calling a plateau finally
Went pending in 14 days.
Went pending in 12 days.
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The market is crashing. Send me your listings with the lowest prices.
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Went pending 6 days.
Went pending 9 days
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Fremont music to our ears…