Foster City Homes selling in an average of 9 days on market. Low inventory and high demand continues on the Peninsula.
Stanford brings 2500 employees to Redwood City in 2019 - home prices continue to rise. Located one mile from downtown, Stanford Redwood City will bring new vitality and energy to an area rich in history.
While low housing inventory and slow wage growth are par for the course in California, the state pushed past those roadblocks to record a strong start to the year, according to the California Association of Realtors’ latest report, which collects data from more than 90 local Realtor associations and MLSs statewide.
San Carlos home sales on fire with 8 days on market average. No slow down in sight... $1,696,000 average sales price...
“Home prices continue to grow at a torrid pace so far in 2017 and these gains are likely to continue well into the future,” said Frank Martell, president and CEO of CoreLogic, in a statement on the Index. “Home prices are at peak levels in many major markets and the appreciation is being driven by a number of dynamics—high demand, stronger employment, lean supplies and affordability—that will continue to play out in the coming years. The CoreLogic Home Price Index is projecting an additional 5 percent rise in home prices nationally over the next 12 months.”
Home prices have continued to climb particularly fast out West, with the highest year-over-year price increases once again seen in Seattle (11.3%), Portland (9.7%) and Denver (9.2%).
“U.S. consumers are the most confident in the U.S. economy in 15 years, buoyed by the strongest job market since before the Great Recession. The survey of consumer confidence rose…according to the Conference Board, the private company that publishes the index. That’s the highest level since July 2001.”
Home prices in the U.S. came to a stop in their monthly growth in January for only the second time since 2012, according to the Federal Housing Finance Agency seasonally adjusted monthly House Price Index.
Skyrocketing housing prices in San Francisco and New York have created headaches for many of their residents, pushing rents and mortgages to unaffordable levels. - Check Out - The 10 hottest U.S. real estate markets in 2017
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Home equity lines of credit is up 21% in the past two years, and hit the highest level since 2008, data from Moody’s Investors Service, a bond credit rating company, showed, according to an article by Diana Olick for CNBC.
This Charming Little House Used to Be an 88-Square-Foot Laundry Room
There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.
Americans are more confident in the housing market, reversing a five-month trend of declines in optimism, according to Fannie Mae’s Home Purchase Sentiment Index.
According to the National Association of Realtors... “Total housing inventory at the end of December dropped 10.8%...which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”
“We expect housing to remain resilient and continue its recovery in 2017, with affordability standing out as the industry’s greatest obstacle, particularly for first-time homeowners,”