A Mid-Summer Breather?
The lastest numbers are in from Dataquick, and it looks like the Bay Area real estate market continues to show signs of cooling. Volume is off 10.8% from last year's record numbers and for the first time this year the average median home price has fallen when compared to the previous month. Although, if you compare to this time last year, prices have risen 17.7%.
You can read the article here.
No records were set last month. Does that mean the market is turning? Probably not. Sure, July was the first month this year that Bay Area home prices didn't reach a new peak. But more important than reaching new highs every month is how stable and sustainable the market is. Right now, things are looking pretty good," said Marshall Prentice, DataQuick president.