Although home sales have increased, the prices have decreased in 118 markets across the country. Prices have declined approx. 7.5% in March from a year ago. This is the eighth straight month of declining prices. So what’s keeping the sales going? I believe that the low interest rates and affordable prices are keeping sales alive.
San Francisco is showing signs of recovery along with San Mateo county. With gas prices continuing to rise, many buyers are moving back to big cities where they don’t have to use their car. This may be one reason why San Francisco has been experiencing a brisk recovery.
- An Unreasonable Fear Of High Gas Prices May Throttle Recovery (247wallst.com)
- Increase in pending sales in San Francisco (jefftung.net)
- Home sales dropped in April, foreclosures declined (seattlepi.com)
- Home sales dropped in April, foreclosures declined (sfgate.com)
- Home sales drop 0.5 percent in April (csmonitor.com)
- Foreign Buyers Getting Firesale Prices on U.S. Housing (blogs.wsj.com)