Consumer Confidence Collapsing
The Anderson Center for Economic Research at Chapman University reported last week that consumer confidence has “…collapsed in California” to the lowest level since the index began in 2002. One component of the index, future spending plans, had the greatest drop, year over year.
We believe that this is a clear sign that the inventory of homes on the market will likely rise significantly, moving the SF Peninsula real estate market into a “balanced” or perhaps even a “buyer’s” market.
The question now is, “When?” We believe the answer is, “Soon!”