Replies to post #482210 on Zeev's Turnips Patch-No Politics (ZEEV)

[MasterPicker1]

If homebuilding stocks are crashing how are house prices still appreciating here in Texas. Those 1.3 million dollar houses are now 1.6 in just 6 months. What is going on here.

[Bearmove]

According to the latest report from DataQuick Information Systems, resales of single-family homes in the valley were way down in May (25.3 percent lower than a year ago), while prices were way up (9.4 percent over May 2005).

Santa Clara County, in fact, had the strongest price appreciation in the Bay Area. In the nine-county Bay Area as a whole, price appreciation was at 6.5 percent, and in San Francisco, our lovely neighbor to the north, the median price was actually 1.8 percent lower than a year ago.