March new homes sales gain is the biggest in 13 years, but prices are still coming down. Don’t believe the hype. The media tries to spin the number new home sales, but fundamentally prices are down 7.1% for new homes. We won’t know the price trend for existing homes prices for two months due to reporting lag. If prices are down nationally they may go down in highly desirable markets, like San Francisco, soon. If prices don’t fall here they may at least go flat. Stay tuned.

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