Credit Suisse October Housing Survey

Well, the October Credit Suisse Housing Survey is in.  The full report is attached so you can really drill down and get the details on the major markets in California and around the nation.  Here are a few of the high points.

  • Modestly better buyer traffic, but still at low levels
  • Buyers remain uneasy as seasonal slowdown begins
  • Home prices continue to drift lower
  • Buyers are remaining cautious, especially at the upper end of the market

Here are a few quotes from agents around California.

  • “Buyers only want to commit if the price is below market value” – Los Angeles
  • “Lots of uncertainty about a potential double dip” – San Diego
  • “Consumer confidence remains below average” – San Francisco

Here is San Luis Obispo, our market remains active, but we are beginning to see the seasonal slowdown as we move into November.  Price is the big factor for sales.  Any property that is the slightest bit above the market will sit for months.

Check the full Credit Suisse report for more details.

As always, feel free to contact us with questions and comments.

Posted by: Larry Smyth

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