Up or Down:
Well, as the 'recovery' continues its slow, very gradual pace, we have any number of statistical reports to guide us in trying to figure out where we're going, when we're going there, and how long it'll take us to get there. Most still seem to indicate a continuing increase in value in the overall housing market. However, the main difference from one to another is the pace at which we're moving along to better values.
One of our main favorites, as any regular follower of this site knows, is the monthly Case-Shiller report. Covering the 20 largest metropolitan housing markets in the country, including San Francisco (defined in this case as the entire Bay Area), the general feeling is a positive one. According to C-S, trends continue on a general upward direction, with most of the twenty areas analyzed continuing to gradually climb. A few showed minor negative flows. For those of you located here in the Bay Area, the C-S news continues to be good. The SF area had the largest increase again, rising 18%.
So, for sellers, it may be time to again consider possibly putting your place on the market. Buyers also have a pretty good situation, as prices combined with historic low mortgage interest rates still present a very good opportunity to get that dream house for quite a bit less than you'd have paid just three years ago.
Good luck, If anyone following this blog has any direct questions, please feel free to drop us an email: firstname.lastname@example.org .
See you next week.