Golden State home prices could eclipse their previous peaks within the next few months, while the nine-county Bay Area continued to record double-digit percent appreciation in April, pushing prices just above $1 million.
California and Bay Area housing affordability inched up quarter over quarter, but the state is home to all 10 of the least-affordable major real estate markets in America.
Nine in 10 U.S. metropolitan areas saw annual home price increases in the first quarter of 2018, with Silicon Valley putting up the highest appreciation in the country.
All Bay Area regions in which Pacific Union operates posted year-over-year median home price increases in April, except Napa County, which saw slight annual depreciation. Get all the latest market data of note in Pacific Union's April 2018 Real Estate Update.
Homebuyers in one Silicon Valley community paid more than $1,600 per square foot in the first quarter. Find out where square footage currently costs the most in the Bay Area.
Demand for real estate in Silicon Valley showed no signs of abating in the first quarter, with the San Jose metropolitan area putting up the highest home price appreciation in the U.S. and sellers netting profits of more than 100 percent.
Over the past decade and a half, more than 20 U.S. states have not built enough homes to meet demand, leading to rising prices and decreased affordability, with California accounting for nearly half of the undersupply.
Bay Area home prices have been growing substantially on an annual basis since last summer, with March appreciation the highest yet during the current run.
Inventory was down on an annual basis across most of the Bay Area, pushing home prices up yet again. Get the latest market data and expert commentary from Pacific Union Chief Economist Selma Hepp in our first-quarter real estate report.
More than two-thirds of U.S. housing markets were not affordable in the first quarter of this year -- including all major counties in California
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