Take a look at this graph of home sales in the Bay Area city of Concord. If you contrast this with other surrounding cities you will see that Concord has had a relatively robust first half of the year. You can also see sales dipping during the first few weeks of August. In addition to the seasonality of real estate with most sales taking place during the summer months, I attribute the early downturn in sales to the recent debt ceiling and budget debates in Congress. However, I have noticed more activity over the last few days so we’ll see what September has in store.
