Across the Bay Area, markets have continued to slow and cool. As illustrated in this report, dramatic demand, inventory, overbidding, price reductions, and year-over-year appreciation rates have usually occurred. Buying and selling continues: Over 5200 home sales were reported to MLS from Napa County to Monterey in July 2022 – many of them selling quickly for over asking price - but that number is down 38% from last [...]

Leaning into Market Headwinds, Year-over-Year Appreciation Rate Falls The impacts of this year's severe economic headwinds – soaring inflation and interest rates, stock market declines, fears of recession – on Bay Area real estate markets are speeding up. The first effect was on buyer demand (fewer buyers, offers and listings into contract), leading to changes in supply (more home sales, more price reductions), which began to alter buyer and [...]

Clear Indications of Cooling Market Dynamics Sales are declining, and the numbers of active listings and price reductions are increasing. But the homes that are selling are still, on average, selling quickly for well over asking: Median sales prices and year-over-year appreciation rates remain high. When an overheated market cools, the change is typically gradual (absent a disaster event), and does not mean the market is weak by [...]