We’ve put some DataQuick sales data behind the recent CBS5 “rebound” report to make a simple point. Despite significant discounting in the new development market, the recent “spike” in San Francisco sales activity is being driven by seasonality.
Any industry expert that claims a March spike in sales volume as evidence of a real estate rebound either doesn’t understand the basics of the market or isn’t being entirely forthcoming. We’ll let you decide which is worse.
Well, either that or the San Francisco real estate market “rebounded” in March of 2005. Then again in March of 2006. And again in March of 2007. And again…
∙ CBS Calls It A “Real Estate Rebound In San Francisco” [SocketSite]