San Luis Obispo Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The San Luis Obispo housing market has seen a continued decline from the remarkable price increases of years past. The continued sharp declines in sales activity has increased the number of homes on the market and is forcing sellers to lower their expectations. Further sales and pricing declines should be expected, particularly if mortgage rates move higher due to extremely poor affordability.

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Nominal Price Activity		SLO	National	Comment
.	Quarterly Appreciation (Q3:2006 – Q4:2006)	-1.7%	-2.7%	Poor
	Rolling Year Appreciation (Q4:2005 – Q4:2006)	-2.6%	1.7%	Poor
	Last Year Appreciation (2005)	17.3%	13.4%	Strong
	Rolling 5 Year App. (Q4:2001 – Q4:2006)	78.9%	49.4%	Good
	Historical Average Annual Appreciation	7.4%	6.0%	Good
Real Price Activity		SLO	National	Comment
.	Quarterly Appreciation (Q3:2006 – Q4:2006)	-2.0%	-3.0%	Poor
	Rolling Year Appreciation (Q4:2005 – Q4:2006)	-5.5%	-1.2%	Poor
	Last Year Appreciation (2005)	14.1%	10.3%	Strong
	Rolling 5 Year App. (Q4:2001 – Q4:2006)	57.8%	31.8%	Good
	Historical Average Annual Appreciation	3.3%	1.7%	Good
Affordability Activity		SLO	National	Comment
	Mortgage-Debt-to-Income Ratio* (Q4:2006)	48.1%	21.7%	Extremely Unfavorable
	Historical Mortgage-Debt-to-Income Ratio*	34.4%	20.7%	Very High
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*	This ratio compares the monthly mortgage payment (principal & interest only, which does not include hazard insurance, property taxes or any needed private mortgage insurance) for a median priced home financed at the prevailing 30 year mortgage rate to the local median 4-person family income.
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	San Luis Obispo historical data is for the time period of Q1:1978 – Q4:2006
	National historical data is for the time period of Q1:1975 – Q4:2006

SAN LUIS OBISPO, CALIFORNIA - Q4:2006