Monday Market Update: It’s Not Just Silicon Valley
Housing is a challenge - and not just here!
When you think of surging home prices, low inventory and affordability concerns – you no doubt think of the Silicon Valley housing market. However, this week we wanted to share the newest infographic from NAR® which reveals the metros with the largest percent gains in single-family home prices – and NONE of them are in California! The data reveals that ‘Six of the 10 metro areas with the largest percent gains in existing single-family home price in 2022 Q1 were in Florida, and the others were in Utah, Alabama, and Colorado.’
In addition,
NAR® has reported that Q1 of 2022 resulted in double-digit price gains in 70% of 185 analyzed metropolitan markets in the US, a figure that was 66% in Q4 of 2021.
Does any of this data surprise you? Do you have concerns about continued home price growth? While we always caution our readers that there is no crystal ball, industry experts such as NAR® Chief Economist Lawrence Yun believe that while home prices are unlikely to drop, appreciation is likely to slow in the coming months.
We hope you can use this information as a foundation to think about what you want & how to get there!
All our best,
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
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