In early August, we mentioned agents reporting that buyer activity – renewed interest in getting back into the market, visits to open houses, and so on – was picking up due to a number of issues: Price reductions, less competition, the drop in interest rates, and the dramatic recovery in stock markets. And a small [...]
Across the Bay Area, markets have continued to slow and cool. As illustrated in this report, dramatic changes in demand, inventory, overbidding, price reductions, and year-over-year appreciation rates have usually occurred. The post San Francisco Home Prices, Market Conditions and Trends August 2022 first appeared on Paragon Specific.
Leaning into Market Headwinds, Year-over-Year Appreciation Rate Falls. The impacts of this year’s severe economic headwinds – soaring inflation and interest rates, stock market declines, fears of recession – on Bay Area real estate markets are speeding up. The first effect was on buyer demand (fewer buyers, offers and listings into contract), leading to changes [...]
Leaning into market headwinds, year-over-year appreciation rate falls. The impacts of this year’s severe economic headwinds – soaring inflation and interest rates, stock market declines, fears of recession – on Bay Area real estate markets are speeding up. The post San Francisco Home Prices, Market Conditions & Trends July 2022 first appeared on Paragon [...]
Sales are declining, and the numbers of active listing and price reductions are increasing. But the homes that are selling are still, on average, selling for well over asking: Median sales prices and year-over-year appreciation rates remain high. The post San Francisco Home Prices, Market Conditions & Trends June 2022 first appeared on Paragon [...]
In April 2022, the Bay Area continued to see appreciation, overbidding and days-on-market reflecting extremely intense demand. But sales are a lagging indicator reflecting offers accepted 3-6 weeks earlier, April sales mostly reflect buyers who locked in mortgage rates before the big late-March/April jumps, buyers highly motivated to buy before their interest rate locks expired, [...]
Soaring interest rates & housing costs; continuing strong demand, low inventory of house listings and high market velocity. Sales were robust in Q1 for all property types, but the supply of house listings in particular was very low. The post San Francisco Home Prices, Market Conditions & Trends April 2022 first appeared on Paragon Specific.
So far in 2022, Bay Area real estate markets appear largely unfazed by higher interest rates, volatility in financial markets, and troubling international events.
2021 was one of the most frenzied real estate markets ever, with buyer demand far exceeding the supply of listings available to buy – and all the usual indicators, including home price appreciation trends, reflected this severe imbalance. As is the normal seasonal trend, listing and offer activity dropped substantially mid-November through early January, resulting [...]
Seasonal fluctuations are common and it’s not unusual for median sales prices to peak for the year in spring Q2. Longer-term trends are more meaningful than short term changes. The post San Francisco Home Prices, Market Conditions & Trends January 2022 first appeared on Paragon Specific.