HOME PRICES IN THE BAY AREA BEGIN MOVING UP, AND THEY WILL CONTINUE TO DO SO
I hate it when I’m the bearer of bad news, but I’m paid to advise to the best of my ability and that means embracing the truth even when it’s ugly.
The prices in the Bay Area are moving up again. Why? The short asnwer is that there are more buyers than sellers. People have been waiting for two years to buy. They either get that extra bedroom they need or they get a divorce. People bought houses in the 80s when interest rates were 10%, 12%, 15%. Eventually, we just have to.
The Case Shiller index - the gold standard for tracking home prices - shows the Bay Area ticking up. And the Case Shiller doesn’t bounce around. In fact, it rarely reverses direction at all. The end of people waiting to buy has arrived.