Changes in interest rates affect local, national and international economies in a bewildering variety of positive and negative ways depending on the segment, and there is vehement disagreement as to what rate or rate movement is best, or most dangerous, for whom.
As of Friday, November 18, mortgage interest rates have jumped about 15% since the election, with many economists and analysts predicting more to come in the not too distant future.
» Read more about: Rising Interest Rates & Bay Area Housing Affordability »
Median sales prices usually jump in autumn, to a large degree because of the seasonal increase in luxury home sales, and that is what happened in October. The combined house and condo median sales price was up 6% from October 2015, but substantially unchanged from the previous peak median prices achieved in spring 2015 and spring 2016.
San Francisco Median Home Sales Prices
Median sales prices usually jump in autumn,
» Read more about: Multiple Angles on a Changing San Francisco Market »
The Marin County real estate market continues to see moderate price increases year over year, driven by a general lack of supply and continued high buyer demand, especially in the more affordable, middle-price ranges. The market is definitely cooler in higher price segments, with increases in the number of luxury homes for sale amid somewhat softer demand. This is a general trend across the Bay Area.
The real estate market usually goes into semi-hibernation from just before Thanksgiving through mid-January, » Read more about: The Marin County Real Estate Market – November 2016 Report »
IMPORTANT: Since Case-Shiller Indices cover broad areas – 5 counties in the SF Metro Area – which themselves contain communities and neighborhoods of widely varying home prices, the C-S chart numbers do not refer to specific prices, but instead reflect home prices as compared to those prevailing in January 2000, which have been designated as having a value of 100. Thus these charts are really generalizations about appreciation (or depreciation) trends: for example,
» Read more about: Updated S&P Case-Shiller Home Price Index for San Francisco Metro Area »