I had another thought about the -10.6% fall in SFH prices in King Co since July to Nov. It has taken 5 months for prices to fall that much. But YOY prices are flat, exactly 0% change from Nov 06 to Nov 07. Time will eventually work it's way to July, 2008. Does anyone honestly think that the median price will be higher next July, especially if we are headed towards a significant recession? This means that the YOY change in median sales price will be AT LEAST -10.6%, and that's only if prices stay flat till July!
Sorry Seattle, but the bubble has done gone bust itself...
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