Are Bay Area Housing Markets Getting the Jitters? June’s Median Price Growth Doesn’t Suggest So
In projecting Bay Area real estate market activity for the remainder of 2018, it is understandable why many participants feel a bit anxious. At the current rate of median price growth, everyone is asking themselves how much longer the appreciation in sustainable. To add color to that question, keep in mind that there are multiple segments of the market. Buyers who are budget constrained will feel the burden of increasing mortgage rates and growing prices. That segment of the market may consequently slow faster than for buyers who are less sensitive to mortgage-rate increases and higher home prices. As market activity in 2018 has shown, the higher end continues to grow despite higher mortgage rates and concerns over financial volatility and further economic growth.
Check out this short animation offering highlights from Pacific Union's June’s Bay Area home sales report @elizabethGkilgore
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