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 changes in the housing 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.
After a brief rebound in market activity in August, pursuant to what turned out to be a very temporary decline in interest rates and an associated rebound in financial markets, macroeconomic conditions shifted again [...]
Virtually across the Bay Area, Q3 median sales prices retreated dramatically from their spring peaks, and SF was hit harder than most area markets. Part of this was due to seasonal trends – [...]
In early August, we mentioned agents reporting that buyer activity - renewed interest in getting back into the market, visits to open houses, and so on – was picking up due to a [...]
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: [...]
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 [...]
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 [...]
Other Compass reports: https://www.bayareamarketreports.com/ Many factors affect home values: quality of location, architectural style and curb appeal, square footage, condition, views, amenities, extra rooms, parking, decks and yards, privacy, lot size, and so on. [...]
Sales were robust in Q1 for all property types, but the supply of house listings in particular was very low. However, as of March 31st, mortgage interest rates have skyrocketed 50% in 2022, with a particularly large jump in March.
