A lack of inventory, especially at the low-end, continued to push median prices higher in April. NAR reports: Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62 million in April from a downwardly revised 4.47 million in March, and [...]

We’re all aware that the housing market is very segmented. Over the last couple of years I’ve been looking at Oakland/Piedmont single-family home sales and to demonstrate that point I decided to divide those sales into just two segments; under $500k and $500k and up. Let’s look at these two cases separately. First, the under [...]

With so little available inventory, communities along the 680 corridor are witnessing a supply/demand ratio that reminds me of 2005. For comparison, a steady market in this area would have about three months of supply – meaning there might be 150 homes for sale with 50 sold in the last month. Greater than three months [...]

Existing Home Sales were a disappointment in March, falling to a rate of 4.48 million. Analysts had expected sales to rise to 4.62 million units. NAR reports: WASHINGTON (April 19, 2012) – Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of [...]

The median price of homes sold in the Bay Area jumped in March as foreclosure resales were the lowest since 2008. DataQuick reports: La Jolla, CA.–March home sales in the Bay Area were at their highest level for that month in five years, the result of lower prices, low interest rates and an improving economy. [...]