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Real Estate Roundup: What a Tech Bubble Could Mean for Bay Area Housing

Tech Bubble

Increasing prices are mildly cooling investment activity as the California housing market recovery continues, but these buyers still account for a substantial portion of sales.

In the California Association of Realtors’ 2014 Investor Survey – conducted in May and later presented in a webinar – real estate professionals said that investors made up 32 percent of their business, down from 39 percent in 2013. CAR figures that rising prices likely have something to do with the slowdown.

The median sales price for a single-family home in the state was $457,160 in June, a 7 percent annual increase. The current median price in California is 86 percent above its February 2009 low of $245,230 but still 23 percent short of its peak, set in May 2007.

In Pacific Union’s Silicon Valley region, where the median single-family home price has hovered around $2.5 million for most of 2014, escalating prices have also led to a noticeable decline in investor activity, according to company Vice President David Barca.

Also: San Francisco remains the country's priciest rental market, while Oakland has seen costs explode over the past year. Get all the week’s top news at http://pacunion.us/1WXg4iB


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