It is apparent that below $400000 , the sales are very brisk and the supply cannot even catch up with the demand. However above 3 million, we have a glut of homes . Out of 138 total listings only 22 were listed as sales thus we have now a supply of 6 months which is not as bad as in Santa Clara for the high priced market where we have a 13 month supply of homes above 3 Million.The reason for this is that financing is not as easy to get as banks are very gun shy.Already burnt badly , they do not want to take a chance.Already Bank of America is going to reduce Conforming loan limit from July 1 even though FHA loan limits are not going to change till Oct. 1, 2011 San Mateo County For The Month of May, 2011 Single Family Homes RangeActivePending SaleRatio 3 Million to 30 Million116225.27 ...
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