The frantic run-up in Bay Area home prices is expected to settle down in the coming months as a result of three factors seen in real estate markets nearby and nationwide: rising mortgage rates, expanding inventory, and declining investor demand.
Two Bay Area regions rank among the top five leading the U.S. housing recovery, outperforming most of the nation in decreased foreclosure activity, growing median price, fewer underwater homes, and rising employment.
A recent home-affordability report shows that prices continue to rise beyond the reach of most Californians, but houses are still a bargain when compared to six years ago, when only 11 percent of the state’s residents could afford to buy a home.
This just in: California’s economy will pull past Italy and Russia by the end of 2013 to stand alone as the eighth-largest economy in the world.
Instead of putting a damper on sales, the prospect of rising interest rates will likely drive homebuyers to make a deal sooner rather than later, making for a busy summer and fall.
Things are coming up golden for homeowners in the Golden State, as median sale prices rocket to heights not seen since 1980.
Faced with shrinking inventories and rising prices, homebuyers are increasingly willing to pay more for residential properties, a new survey says.
Tight supplies of homes for sale have stymied would-be buyers in the Bay Area – and in many parts of California and the U.S. – for many long months. Have housing inventories finally hit bottom?
An April housing survey by Fannie Mae found that 51 percent of Americans expect home prices to climb at least 3 percent over the next year, a big jump in confidence from a year ago, when only 32 percent were optimistic prices would rise.
April home prices continued to post solid gains across the Bay Area and the Tahoe/Truckee region in April, with the median price for single-family homes reaching $1 million in San Francisco for the first time in more than five years and the median price in our Sonoma Valley region jumping 65 percent over the past year.