It is too early for significant effects to show up in home prices: Indeed, through February, 3-month-rolling median house sales prices saw year-over-year declines across all Bay Area counties.    

The post Lamorinda Home Prices, Market Conditions & Trends March 2023 first appeared on PEB.

It has been very challenging to predict short-term interest rate changes. Another major factor is the substantial decrease in the number of new listings coming on market, a critical issue with wide ramifications if it continues.    

The post Diablo Valley Home Prices, Market Trends & Conditions March 2023 first appeared on PEB.

Market activity then slowed further through the rest of 2022. There are currently considerable hopes for a more lasting economic recovery in 2023.    

The post Lamorinda Home Prices, Market Conditions & Trends February 2023 first appeared on PEB.

Based on this preliminary data (much of it still anecdotal*), it appears that buyer demand severely repressed by economic conditions in the 2nd half of 2022 has begun to bounce back.       

The post Diablo Valley Home Prices, Market Trends & Conditions February 2023 first appeared on PEB.

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.       

The post Lamorinda Home Prices, Market Conditions & Trends January 2023 first appeared on PEB.

“Homebuyers are waiting for rates to decrease more significantly, and when they do, a strong job market and a large demographic tailwind of Millennial renters will provide support to the purchase market.” FHLMC, 1/5/2023      

The post Diablo Valley Home Prices, Market Trends & Conditions January 2023 first appeared on PEB.