Real Estate Market Updates

Homes are selling like crazy, prices are still going up-you’ve heard it before…but let’s look at the facts.

The top 3 leading articles in my email inbox today from various news networks read: “Existing-Home Sales Strengthen” and “New-Home Sales Take Off” and “Home Prices on Long-Term Spell Upward.”

So what does one make of all these headlines go around in the media?

“Home prices continue to rise across the country,” says David M. Blitzer, chairman and managing director of the S&P Dow Jones Indices Index Committee. “The S&P CoreLogic Case-Shiller National Index is up 6.3 percent in the 12 months through February 2018. Year-over-year prices measured by the national index have increased continuously for the past 70 months, since May 2012. Over that time, the price increases averaged 6 percent per year. This run, which is still ongoing, compares to the previous long run from January 1992 to February 2007, 182 months, when prices averaged 6.1 percent annually. With expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.

So let’s take a look into some East Bay markets at some facts:

Here are the facts for Contra Costa County areas:

Here are the facts for Alameda County areas:

 

“By golly, I think they’re right!” 🙂  Let’s go buyers, get in there while you can!

 

Sources: RISMedia.com, www.nar.realtor, Bayeast ParagonMLS Statistics

10 thoughts on “Homes are selling like crazy, prices are still going up-you’ve heard it before…but let’s look at the facts.

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