The decline in the number of sellers putting their homes on the market continues to be a factor in the balance between supply and demand, in the recovery in home prices, and the decline of overall sales volumes.              

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

After the usual summer slowdown from spring, the autumn selling season began after Labor Day and runs until early-mid November, when the market typically begins its big, mid-winter holiday slowdown.            

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

Included are charts reviewing both annual home prices for a broad review of appreciation trends, and then 3-month-rolling prices for insight into shorter-term changes.          

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

Along with the recovery in buyer demand and improvements in the general economy, this has been a defining factor in 2023’s market conditions.        

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

Of all the factors at play, perhaps the biggest wild card has been severely depressed new-listing activity as potential sellers have held back – ascribed to the “mortgage lock-in effect” – which not only artificially constrained the number of sales, but put upward pressure on prices as buyers, once again, competed for an inadequate supply …

Continue reading “Lamorinda Home Prices, Market Conditions & Trends July 2023”

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

For most Bay Area markets, summer has historically been a slower period after spring – with some regions, such as San Francisco, seeing a relatively short (6 to 8 week) spike up in activity in autumn before the big midwinter slowdown – but typical seasonal trends have been upended a few times in recent years. …

Continue reading “Diablo Valley Home Prices, Market Trends & Conditions July 2023”

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

Median home sales prices have been climbing rapidly in recent months, though remaining well below peak prices hit in spring 2022. The number of new listings coming on market over the past 12 months was the lowest in over 20 years (and almost certainly much longer).          

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

With bank crises, fed actions, inflation readings, and U.S. debt-default fears, interest rates have been volatile in 2023, with significant ups and downs. As of early June, 30-year, fixed-rate mortgages are running about a quarter percent below 7% (but rates can change quickly).      

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

The Bay Area is one of the world’s great metropolitan areas – as a financial and cultural center; in the spectacular beauty of its setting and surrounding open space; as a hothouse of innovation; in its diversity, openness and opportunity – and despite its current round of challenges, we expect it will continue to be …

Continue reading “Lamorinda Home Prices, Market Conditions & Trends May 2023”

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

Over the past 40 years alone, the San Francisco Bay Area has seen 4 major upcycles or housing booms. In each, there have been enthusiasts who argued that this time the boom times would never end – but each ended, typically after hitting a final peak of what economists call “irrational exuberance.” Upcycles were followed …

Continue reading “Diablo Valley Home Prices, Market Trends & Conditions May 2023”

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