April, May & June sales volumes are commonly among the highest of the year, and this is especially true for luxury home sales.    

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

Across the Bay Area, year-over-year sales declines in the highest price segments have outpaced drops for less expensive homes, and their demand-to-supply ratio – the number of sales compared to the number of listings for sale – is much weaker.  

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

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.

The changes in market dynamics that began in late spring/early summer 2022 generally continued in autumn due to the ongoing economic headwinds, including high inflation and interest rates, reduced consumer confidence, and volatile stock markets, though all have fluctuated significantly over the period, and some readings have recently improved.        

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

December typically sees the low point of new-listing and sales activity with an increasing number of homes taken off the market to await the new year but listing, buying and selling continues.          

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