Tuesday, March 03, 2020

No bottom yet.

Despite there being almost nothing on the market - almost 80% of the houses sold in my city went for under asking.

For sure people who bought two years ago are now flat. Negative equity is now a concern. To be more specific, people who bought two years ago will not be able to take advantage of the lower interest rates.

May 30, 2019 - Bay Area housing slump: Home sales drop, prices turn flat.

June 28, 2019 - Bay Area home prices slump for second time in three months.

July 29, 2019 - Bay Area home sales tumble to recession levels.

September 1, 2019 - Endangered Bay Area species: the new home. New home and condo sales hit record lows

September 27, 2019 - Bay Area home sales fall steeply.

October 3, 2019 - California homeowners slashing asking prices at post-recession high.

October 4, 2019 - Median home price in Santa Cruz County dips to $877,000.

November 7, 2019 - Bay Area home prices continue to slip.

December 5, 2019 - Bay Area home prices fall, hint toward market correction.

December 23, 2019 - Have Bay Area home prices hit a ceiling?.

January 4, 2020 - Pessimism seeping into Bay Area home market for 2020.

January 16, 2020 - San Jose rental market sees unusual slowdown.

To be fair, there was a bump in January after all that REPO madness. But likely that will be faded quickly now.

January 22, 2020 - Supply of homes for sale hits record low, and prices suddenly jump.

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