Media reports on the Real Estate market in California indicate most home sales this year have been Bank-owned or Short Sale properties in the lower price range. 

I was curious to see if there’s a correlation between the Median Price and Absorption Rate in the last 30 days in our local market.  I looked at the data in Rockridge, Montclair, Crocker/Lakeshore & Piedmont and didn’t see a relationship in these areas.  That tells me most properties in our area are being purchased by folks who are buying a home, not by investors.