Bay Area home prices rose by 16 percent year over year in June, while inventory continued to decline. Pacific Union Chief Economist Selma Hepp offers an in-depth analysis of the latest local home sales activity and market conditions.
The appreciation recorded in the Golden State over the past few years is paying off handsomely for homeowners, though it also means that real estate markets here are among the toughest in the U.S. for first-time buyers.
Home prices increased year over year in the second quarter in every Northern California region in which Pacific Union operates. Get all the latest market data you need to make an informed homebuying or selling decision in Pacific Union's Q2 2018 real estate report, which includes expert commentary from Chief Economist Selma Hepp.
In what will come as little surprise to anyone who follows California real estate, the state is home to the top three housing markets in the country with the highest percentage of million-dollar properties, with Silicon Valley at the top of the pack.
Get a glimpse into May's new and resale condominium prices, sales, and inventory trends in San Francisco, Los Angeles, and San Diego.
Anyone who was financially able to purchase a home in California before the dot-com bubble popped is probably feeling pretty good about that decision today, as the state has since produced more than 1,100 owners who became millionaires simply by selling.
Home price gains continue to outstrip wage growth as the second quarter comes to an end, with three Bay Area counties ranking among the nation's five least affordable.
Hot on the heels of a report that both California and Bay Area home prices reached new highs in May comes news that U.S. home prices followed suit, once again the result of more buyer demand than properties for sale.
A continued shortage of homes for sale pushed California's median home sales price to a new record for the first time since the previous housing boom, with the Bay Area recording double-digit percent annual growth for the 11th straight month.
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