.. The million dollar question...
The answer locally is very specific to the town, and within a town very specific to the area, and the price range. There is no immediate “cover-it-all” qualification. One thing for sure: the good schools are at an all-high premium.
Only a full-time agent can tell you ahead of the News how the market is faring, by feeling the pulse of the market. One way I “feel” the market is by sharing with my colleagues their open house experience. Right now, it is very positive, in that we see a lot of pre-approved buyers going to open houses in large numbers. The clientele is picky, looking for a bargain, but is there to buy.
Based on that, I do not think the market is going to “crash” like some news articles report. Prices will continue to adjust quickly as they always do in the Valley, but I would not try to “time” the market: what counts is to buy a house you love, at a price you know you can afford comfortably.
Francis C. ROLLAND