I Hate To Speculate About The Bay Area Real Estate Market, But…

The fact is the real estate market will go up… Then it will go down… Then it will go up again… Then it will go down again… Thus I try to stick to the facts when speaking about the real estate markets.

I recently read an article about how hot our market will be in the spring. It came from the San Jose Mercury News Square Foot Blog in an article entitled, California Housing Downturn May Be Mild. I agree that our market will most likely have a robust year, but it is interesting to see that the media just picked up on this. We have been seeing multiple offers on many properties for the last 2 months. For more information about why the media is behind the real estate curve check out, Evidence of the Media Being Behind the Real Estate Curve.

The long story short is that the Bay Area real estate market goes up and down. Go figure? That over the long term real estate in the Bay Area is driven by the lack of supply for the copious amounts of people that want to live and work in California. We also have higher paying jobs then the national average. So, go figure that our prices are also higher then the national average. Here is an interesting fact, that if California’s economy were ranked as a nation then it would be ranked between the 6th and 10th largest nation in the world. So, when the negative news has got you down or the positive news has gotten you jazzed realize that California is truly unique and its real estate climate is unique as well.