According to some agents, buyer interest has begun to rekindle with the decline in competition, increase in inventory, and economic changes mentioned above, but if this is part of a broader recovery in demand, it has not yet shown up in the statistics – which are lagging indicators of what’s occurring on the ground right …

Continue reading “Diablo Valley Home Prices, Market Trends & Conditions August 2022”

The post Diablo Valley Home Prices, Market Trends & Conditions August 2022 first appeared on PEB.

As of early August, the average, weekly mortgage rate for a 30-year fixed rate loan fell below 5% for the first time since April, and stock markets have seen large rebounds since early July – but these and other indicators have been subject to sudden and often dramatic volatility, and their future directions can’t be …

Continue reading “Lamorinda Home Prices, Market Conditions & Trends August 2022”

The post Lamorinda Home Prices, Market Conditions & Trends August 2022 first appeared on PEB.

An overheated market cooling or normalizing, slowing from an unsustainable rate of acceleration, does not necessarily imply a weak market by historical standards, even if the speed and scale of the change is startling.      

The post Diablo Valley Home Prices, Market Trends & Conditions July 2022 first appeared on PEB.

Outside the 2008 crash, market corrections over the last 4 decades typically ran from a simple flattening in appreciation, to price adjustments of 5% to 10% (relatively small compared to the appreciation rates which preceded them). It is far too early, with far too many factors at play, to make predictions.      

The post Lamorinda Home Prices, Market Conditions & Trends July 2022 first appeared on PEB.

Market changes are often very uneven in the early months of a transition, with one home selling in days at over 25% over list price, while next door, the seller has to reduce their price to get an offer. Not every home will sell.    

The post Diablo Valley Home Prices, Market Trends & Conditions June 2022 first appeared on PEB.

As of late Spring, across the Bay Area, less expensive home sales have been considerably impacted by rising interest rates. Sales of higher price homes have held up much better – Lamorinda is a very affluent market – but cooling demand is beginning to show up in pending sale data.      

The post Lamorinda Home Prices, Market Conditions & Trends June 2022 first appeared on PEB.