More Bay Area housing weirdness: Sales increase in some counties despite shrinking supply of homes


#1

The number of homes for sale statewide — and particularly in the Bay Area — remains stubbornly low, according to a new report from the California Association of Realtors (C.A.R.) In October, all nine Bay Area counties saw double-digit declines in the number of active listings compared with a year earlier.

That’s pretty shocking, and one result is predictable. With buyers fighting over the shrinking supply of available homes, prices went up again. The median sale price of a single-family home in the region was $892,720, up 11.1 percent from October 2016, association says.

Less predictable is this: The number of homes sold actually increased across the nine counties, despite the dwindling number of listings. It didn’t increase by much — just 0.5 percent year-over-year. But still, the fact that the region eked out any sales gain at all speaks to the fierce level of competition here; buyers are burning through whatever inventory exists.


#2

Median price

Santa Clara County: $1,242,500
San Mateo County: $1,522,500
San Francisco: $1,594,000

I must be under a rock the last couple months. We are now up to 1.6M in SF? 1.25 in SC? :scream: :scream: :scream:

People are just throwing caution into the wind and in beast buyer mode. BUY BUY BUY!!! :japanese_ogre: :japanese_ogre: :japanese_ogre:


#3

Median price

Santa Clara County: $1,242,500
San Mateo County: $1,522,500
San Francisco: $1,594,000

When this is like growing crazily, stocks are also growing at 17% (S&P), economy is full swing with low jobless rate and with FED rate is going on, I am scared of impending crash !

Corp rate reduction is a game changer and how long is the question.


#4

This coming crash will be stocks, not housing.

When stock crashes, more people will buy houses to avoid their money disappear when they sleep


#5

When stock crash happens, it affects real estate too, but cash rich RE investors alone keep buying them at low cost. This is very common with cash wealthy, but not stock wealthy !