West Coast housing market defies gravity
Sales plummeting but median prices still insane. San Jose hits $2.05M, SF at $1.5M, Anaheim $1.48M. LA barely cracks $880K and that's still absurd.
The entire West Coast is locked in a contradiction: nobody's buying but everything costs more. Prices aren't correcting, they're just pricing out the next tier of desperate buyers.
West Coast home sales are collapsing while prices remain stratospheric, showing the market is no longer correcting but simply eliminating buyers entirely.
Source
x.com