Once again, here’s the real estate news you’ve been waiting for!
“Money is the best deodorant” ~ Elizabeth Taylor
If you’re sweating the current economic climate, you’re not alone. It’s been a roller-coaster year and that ride is likely to continue. Buried in the middle of the second section of this newsletter (and visible in the median growth chart) is this startling sentence: “Since their peaks earlier this year, prices have contracted by 23% for single-family homes and 25% for condos.”
Look closely, and you’ll see that — as measured by data through the end of August — we’re roughly back to where we started in January. But take heart! August was pretty weird, and September and October are likely to look handsome in hindsight. Relative to other parts of the U.S., the San Francisco market is very healthy (just not fevered as in seasons past) and there’s balance for buyers and sellers. Call me.
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