Freddie Mac crunched the numbers and concluded "there currently is no house price bubble in the U.S." And yes, that includes the Bay Area.
Tag Archive: housing
The recession of 2007-2009 hit the Bay Area harder than the nation as a whole, but the region recovered faster and today outperforms the country in terms of economic growth and housing market conditions, according to a just-released report from the U.S. Department of Housing and Urban Development.
Housing markets are taking a "fall breather," according to John Burns Real Estate Consulting, but the company's forecast calls for "a solid market in 2014 and beyond."
Rising prices pushed Bay Area homes even further out of reach for most buyers in the third quarter, with barely one in five able to afford a median-priced home. Housing affordability is down statewide, too.
The California Association of Realtors predicts that home-sales volume in the state will rise 3.2 percent in 2014 and the median sales price will increase by 6 percent. And for the first time in several years, real estate markets could open up to first-time and trade-up homebuyers.
Look for U.S. housing markets to continue expanding at healthy levels next year, with the pace of sales-price appreciation to slow down and construction of new homes to pick up, according to a pair of recent forecasts.
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.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a report that San Francisco has the most competitive real estate market in the nation, with 87.9 percent of all offers on homes facing competition from other buyers. Also, a new survey says Americans are increasingly confident in their ability to buy and sell homes.
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