HPI

Over-all

October 2010 $579,349

September 2010 $577,174

SFH

October 2010 $796,883

September 2010 $790,992

Apartment:

October 2010 $390,074

September 2010 $388,373

Attached

October 2010 $487,530

September 2010 $490,385

Quick comments. Not much solace here for the bears. The rate of increase YOY has declined from over 6% to 4.6%. Attached down a tad, apartments up a tad (I had expected down, but there was a late October buying spurt despite a famous agent's whining) and SFH up nearly $6k.

Over-all HPI up 0.5%.

Sales down 39%.

I have to concede we are in a flat and balanced market. The good news is buyers should not feel stress to jump in and over-bid with sales down so much and lower interest rates here for a while (despite Carney's yacking- he cant raise rates much more) though I do expect long rates to drift up. If you have to buy, I would look at product that has been on the market for a while, where there has already been a price reduction and where the seller's have a good reason/need to sell.

The good news is there are robust lists tonight and much fewer sales. Lets hope the month continues like that.