Southern California Home Sales "Crash". Let's wait & see.

This came on on July 24th after June sale numbers had come out. Here is the  link.

I certainly don't think it's as dramatic as they make it to be. No, I don't believe sky is falling. If it was, it would've been all over the news. HOWEVER, it is something to take note of. Prices have been going up steadily and we knew a day will come, sooner or later, where market will start to correct itself: maybe a little decline in the form of inventory going up, days on the market increase, number of sales decrease, etc. Today is September 4th and in a few days August sales numbers will come out. I watch the numbers very closely and I'm very eager to see what August numbers will look like. One sign of softening of the market could be "Sales Price to Original Sale Price %". In July it was 98% and in June 99%. While in April and May, it was 100%. (For Sacramento County). It means sellers got less than what they originally listed the house for. They had to reduce the price or just got less than what they wanted for it.We witness that a lot in the summer. If I had to bet, I would bet on the August number to be less than 98%. 

Let's wait and see. I could be wrong.

Southern California home sales crash, a warning sign to the nation

• Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic.
• The median price paid for all Southern California homes sold in June was a record $536,250, according to CoreLogic, a 7.3 percent increase compared to June of 2017.
• In the past, California, one of the largest housing markets in the nation, has been a predictor for the rest of the country.