Question for Cali investors, is market stalling?

[Frank Wolter]

Question for my California investors. I have a partner that's in the San Diego area. He flips houses out there. He has alot of properties. He's listed these properties about two months ago. I was under the impression that things sell very quick. I've also been told by other Cali investors there are people buying with zero ROI and hoping for appreciation. Are you noticing a stall in Cali's market or maybe my partner has his price too high? Any feed back would be great ty

[Justin R.]

@Frank Wolter I would say it *feels* - in watching properties and talking to people - like things are moving slower here locally. Important to remember the baseline, though ... this is a from more-or-less stupidly high price appreciation and speed-to-sale times on the market. Should start to separate the cautious from the reckless REI folks.

But, data trumps feelings and empty pontifications.  Some screenshots of the September numbers below.  In summary, less activity overall compared to last year (and, by some measures 2016 as well).  Fewer homes are selling, but they're still selling for higher prices.

SFR numbers: