Weekly/Monthly Market Update
November 21, 2012:
What a wild couple of weeks! The election is over and there is as much anxiety as joy over the results. The pending uncertainty over the extension or demise of the Bush-era tax cuts, the less than clear understanding of the 3.8% real estate tax contained in the Affordable Healthcare Bill, and last but not least, General Petraeus and his embedded biographer. It feels like no matter what fear, uncertainty and doubt surround us, the fact that the Bay Area is one desirable place to live is undeniable.
November 9, 2012:
Looking at the local market, our housing inventory has dropped over the last year from 5 months to 2. This translates into 30% less homes for sale than this time last year. Homes Under Contract are up 36% and Solds are up 48%. The strength of this market is palpable.
October 31, 2012:
Have a Happy and Safe Halloween!