In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly. Prompted by a number of economic factors –
Read → January 09, 2023The changes in market dynamics that began in late spring/early summer 2022 generally continued in autumn due to the ongoing economic headwinds, including high inflation and interest rates, reduced consumer confidence, and volatile stock markets, though all have fluctuated significantly over the period, and some readings have recently improved.
Read → December 07, 2022After a brief rebound in market activity in August, pursuant to what turned out to be a very temporary decline in interest rates and an associated rebound in financial markets, macroeconomic conditions shifted again – with interest rates climbing rapidly to a 20-year high – which took a toll on
Read → November 07, 2022Virtually across the Bay Area, Q3 median sales prices retreated dramatically from their spring peaks, and SF was hit harder than most area markets. Part of this was due to seasonal trends – median sales prices often peak for the calendar year in Q2, then drop in summer – but
Read → October 10, 2022In 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
Read → September 07, 2022Across 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.
Read → August 10, 2022Leaning 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
Read → July 11, 2022Sales 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
Read → June 07, 2022In 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
Read → May 09, 2022Soaring 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
Read → April 07, 2022
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