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Based on the charts, this looks more like a cyclical bounce rather than a long-term trend. Even at "9.5% below the peak in May 2018", that's only a little ove

Based on the charts, this looks more like a cyclical bounce rather than a long-term trend. Even at "9.5% below the peak in May 2018", that's only a little over a year of downward pressure. The question is if an economic downturn combined with new housing starts can actually upset the long-term upward trend for more 18 months.

lallysingh 7y ago
$100-200k of depreciation in a year is rather steep!
- AdrianB1 7y ago
  No, it is all relative. $100k of depreciation of a $200k house is huge, on a $5 million is peanuts.
  - hackin247 7y ago
    You guys are probably not in the market like I am. I've been seeing price drops daily which keeps me from pulling the trigger on a purchase.
rconti 7y ago
Yup. Sounds healthy to me, and hardly a "pop". Things were overheated and need to deflate a bit. In my 'hood on the Peninsula, single datapoint I know, a house was just listed yesterday at $1.25m with a zillow estimate of its peak value at $1.5m in October 2018. That corresponds with my "feel" of the market in the area, as someone who still has zillow listings emailed regularly for the past 5 years for my zip.