“The chief economist of the California Assn. of Realtors has stopped using the term “soft landing” to describe the state’s real estate market, saying she no longer feels comfortable with that mild label.” (Housing Expert: ‘Soft Landing’ Off Mark)
“It’s official – even the nation’s leading group of real estate agents now says it’s a buyers’ market in housing, as a soaring supply of homes for sale means nearly flat prices and longer waits for sellers.” (Realtors: Home sales now a ‘buyer’s market’)
“It shifted from being a counterculture land-reform movement to being a housing strategy.” (Reaching for the American Dream)
Buyer’s market? Just another attempt by realtors to make people buy in a faltering market. With inventory going through the roof in many urban areas (not here though…) and real estate cycles typically taking many years to play out, it seems to me a more appropriate moniker might be “fools market”.
All I know is that houses in good locations are being snapped up with 1 week. The divisadero house listed here, 1 week close. The 125 Alhambra $2.7 million house, on the market for 5 days, now in escrow.
The market is strong, you just have to live in District 7 to see it.