Ahem. https://us.teamblind.com/s/L3L7GpL0 I told you so. (Yes I'm really that petty and bored) Look at any areas <40 min commute to office and look at "sold" on redfin. With the stocks rocketing up to ATHs housing will go up by atleast another 10% by fall. #housing #bayarea
Housing prices generally don't go up much in Fall. I do agree next Summer probably a bit early(starting March) housing will go crazy.
They said by fall.... Not in Fall Aggressive time line for OP lol If anything I bet housing goes up a good chunk once summer break starts...then slows down OCT-FEB because none wants to move between turkey day and super bowl And we see a rush of posts about housing tanking based off some specific but broad stats
Yea. I'm betting nov-jan prices will actually fall a tiny bit. Of course all of this is bust if the stock market crashes.
Bay area housing to the moon 🚀
Housing goes up during most recessions
What do you mean I told you say prices are falling rapidly. I looked at other areas around there and they are falling. SF: -17% https://www.redfin.com/city/17151/CA/San-Francisco/housing-market FYI the bump you see from Feb-April always happens due to spring season even in 07 and 08 we saw a bump in price. That’s why you compare YoY not MoM
Look at any bay area suburb that's not SF and comment again. SF is a garbage fire no one wants to live in at the moment. If you want to compare YoY, also look at YoY change for mortgage cost. Housing unaffordability is actually up YoY because of that.
San Jose is down -11%. https://www.redfin.com/city/17420/CA/San-Jose/housing-market You cannot now factor mortgage rates in, your point was housing prices are back. But they are still down YoY which is comparison you need to do. Wait till you see what happens this fall.. BTW the pricing charts are mirroring exactly what happened in 07.
Happy for you. Your house and your stonks are 🚀
Rates have increased from 3% to 7% year over year. That’s a 40% loss in buyer power. Prices haven’t fallen that much yet, but gravity is gonna drag them down. It’s not about *demand* or *fomo* it’s about what mortgage people can get approved for which is declining, full stop. Just bc some desperate buyers are yeeting themselves into the abyss doesn’t change the mid term direction of housing prices, which is down
Housing in Bay Area will not come back to pre-Covid era unless there is a market meltdown. Many families have 2 income and makes tons on money.
I said a few months housing prices in the Bay Area are going up too. Too many people were just wishful thinking
Jesus I have to say this every year. Spring time seasonal bounce. Happens every year no matter what the broader market is doing. Then the the late summer and fall it goes down. Then it goes up again in the spring. When the fall pullback is less than the spring bounce, then the recession is cancelled. But yes, prices are going up.
Are you a realtor or seller trying to create panic so that buyers go and bid crazy and you make some extra bucks? Why do you keep posting similar messages?
Because I get pissy when people like you blindly comment "oH hE mUsT bE a ReAlToR" when I'm just reporting on on-ground observations. Also, the frenzy/panic was already there 2 months ago if you bothered to go to open houses.
I see the same messages on both sides. Neither one brings enough data for me to move my money around.