Very interesting to hear the official predictions on real estate, only to have them WRONG!  Well, in this review of the National Association of Realtors predictions, it is found that they typically underestimate what will happen in our housing markets.  So what will happen in 2006 when it is quoted that (from NY Times Real Estate Blog http://walkthrough.nytimes.com/?p=244)

"So now the NAR economists are predicting that in 2006 existing-home sales will ease by 4.4 percent to 6.79 million. Judging by their track record, this can only mean one of two things. This year will break all records, or we are in for a sharp decline. – DAMON DARLIN"

Only time will tell of course, but so far just this January it has been extraordinary for my business personally and that of our office.  The sky is not falling. We live in one of the best places to live on earth - the San Francisco Bay Area - Contra Costa county is one of the best for work, schools, recreation, arts , shopping and dining.  They simply aren't building any or enough homes to keep up with our demand in the central part of our county.  Demand often exceeds supply and will likely continue to do so here this year.   Sure we may normalize a bit, maybe it won't be so frantic come spring, but let's wait and see.  Check back and I will post monthly recaps so you can see what the housing market is doing here.   I will be starting a new monthly series of the "Myers' Market Minutes" where I will provide you monthly housing statistics and you can judge for yourself what is going on .  For specific neighborhood information, contact me at catherine@diablovalley.net. or visit www.DiabloValley.net