Real Estate Forecast Anyone? The Real Estate Markets Expected to Grow The Most in the Next Year

Home prices were up by "a lot" this past year, and according to forecasters, and the Real Estate Project Porch.com website, next year is going to be even more so an up year.  

According to the Redfin website, more than 60% of buyers were putting offers on houses sight unseen and the number of homes being bought without an inspection nearly doubled compared to the previous year.  [NOT a good idea, according to me].  The message was clear: buyers knew the real estate market was hot, and they did everything they could to get homes under contract and close the sale.

This article by Adriana Lopez lists the projected increase in prices in several smaller and larger metropolitan areas.  Prices are slated to continue their way up!

As an example, Santa Cruz is projected to go up in price by 28.9% next year, and San Jose by 24.5%

Sacramento is supposed to go up about 18%, and Las Vegas about 23%.

Article by Adriana Lopez, dated Aug.19,2021.

Like my updates? Subscribe to my Blog! Thank you for reading,

Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Price Seasonality - Los Altos vs Santa Clara County

 Seasonality of median prices for single family homes shows well in those two graphs, one for the County as a whole, the other for the specific city of Los Altos.

A value for a month usually corresponds statistically to the sales price of the previous month's transactions.  For instance a value for January would typically correspond to the aggregate sales started in December.

Click on any graph to see it larger.

Of course, as all statistics, one has to take them with a grain of salt.  Some large single sales can skew the figures quite a bit, and the smaller the sample is, the less they are meaningful.

Like my updates? Subscribe to my Blog! Thank you for reading,

Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Closed sale:  766 University Ave, Palo Alto - 2 B. 2 Ba     -   $1.375 million.

Check out the 3-D model!

California: Consumer Sentiment - August 2021

Good time to buy is at 18%, up 1 percentage point from last month and down 15 percentage points from last year, while good time to sell is at 72%, up 2 percentage points from last month and up 18 percentage points from last year. 

Source:  CAR.org

Like my updates? Subscribe to my Blog! Thank you for reading,

Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Closed sale:  766 University Ave, Palo Alto - 2 B. 2 Ba     -   $1.375 million.

Check out the 3-D model!