. East Bay Real Estate Market Report *Source: Bay East Association of Realtors and MLS .
There’s been so much speculation with a number of different opinions coming from a number of sources. All such information is subject to errors, omissions, price change, tenancies, commissions, prior sales, leases, financing, or withdrawal without notice. Weighing in on the subject in his June 3rd market update, Jordan Levine, Deputy Chief Economist at CAR, said:As we discussed in previous blogs, the fundamentals of the housing market were strong before the global economy stalled, and they have continued to show stability during the months of quarantine.Since most California counties are beginning to lift restrictions, we will start to see the housing market steadily recover. Life events—such as relocations, divorces, and deaths—still require people to buy or sell real estate. No warranties are made, expressed or implied as to the accuracy of any descriptions and/or other details. Sales and prices of homes in California took a decided downturn during May. Sales fell steeply from April, down 26.4% and that … You will receive a link to create a new password via email.“We [now] expect some price impacts eventually as a result of some of the negative economic impact. Reports from the field. California's Housing Market Forecast. The Central Valley saw sales decline the least at 36.6% while So Cal saw sales plummet 45.6%.
In order to ensure employee safety, companies have massively shifted toward a remote workforce, which creates new space requirements for potentially millions of Americans.
Remote work also means employees can live almost anywhere. Without physical restrictions, employees may look elsewhere for places to live such as locations with lower costs of living. We welcome you to contact us with any questions about the current market or to request an evaluation of your home or condo.In the long run, who is right will depend on how long the economic recovery takes. House prices dropped 15% month to month and were down 2.5% YoY to $965,000. Real estate has been declared an essential service because everyone needs shelter, particularly in the time of social distancing. Mixed bag: Some homes are “flying off the shelves” and others are selling slower and at a slight discount.
Housing Market Update for the East Bay. Latest news on housing sales and the real estate market in the East Bay, the Bay Area and the nation SF East Bay Real Estate Market Update March 31, 2020 By Glen Bell (510) 333-4460 . . with grandma and the kids, a Zoom meet up...As always, we remain committed to helping our clients achieve their current and future real estate goals. Photo: Justin Sullivan/Getty Images We asked real estate experts to look ahead Although an exact end date to quarantine does not exist, on May 20th, Governor Newsom confirmed that more than half of the state’s 58 counties were moving into phase two of the widely adopted “four-pronged approach.”All of this is welcome news. )JUNE 8, 2020 – Well, that didn’t take long.Another reason we’re seeing more listings is because sellers and agents have grown more comfortable with virtual marketing – videos, 3-D tours, live open houses on Facebook and Instagram.Another unknown factor is the effect of rising social unrest across the nation following the death of George Floyd, a Black American who died in Minneapolis after a white officer pinned him to the ground by kneeling on his neck.What we do know for certain is that no one should live in fear. Everyone seems to be asking the question of how will the COVID-19 “shelter in place” mandate effect the real estate market and how will we come out of it later in the year. We assume that this pent-up demand will give way in the coming months to more participation and market activity from both sides.Whether it’s FaceTime (or Line, WeChat, Whatsapp, etc.) Single detached home sales in the SF Bay Area, fell 6.7% month in May and 51% compared to last May. .
In the SF Bay area, condo prices fell $34,500 to $705,000 from April’s prices and were down $35,000 from last May. 2.
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