Home prices expected to rise in the San Francisco-San Mateo-Redwood City metropolitan area
CNNMoney.com published an interesting article on September 15, 2010 entitled California housing prices on the rebound. The statistics they use mirror what I've found in many of the Peninsula cities in which I work, like San Carlos, Belmont, Menlo Park, Redwood City. The article gives an opinion of why home prices in this area are expected to rise, (and in some areas the rise is taking place now) and gives encouragement to other areas of the country.
In a nutshell, this is what's expected to happen here:
Here's their calculator where you can check your own area. Real Estate-Your Local Forecast
--- Come for a visit; Stay for a lifetime!
Lottie Kendall, Realtor®
Compass
CA DRE#10215160; 650-465-4547
Lottie@LottieKendall.com
Peninsula Living Business Page
I see a forcast of an up turn but not an upturn yet, correct?
Lottie, thank you so much for sharing your local market data. It is always very interesting to see how the market is behaving in other parts of the country. Cheers!
Hi Mark/Tim: The chart shows the forecast; the article talks about the current upturn. It's certainly area based and by no means all over, or even all over California. The San Francisco metropolitan area rose 14.3%. Numbers of sales are down, but prices have risen in many (not all) of our local cities.
Tom, glad you found it of interest. The article talks about the San Francisco area (of which San Mateo County is a part) but the forecaster has many different areas.
Lottie, always nice to hear good news, especially when it is backed by someone who knows what's truly happening in the market place. Great post.