by Calculated Risk on 9/12/2018 03:55:00 PM
Wednesday, September 12, 2018
Here are some Bay Area stats from Pacific Union chief economist Selma Hepp: Rising Housing Costs Hit the Bay Area’s Most-Affordable Communities the Hardest
• Bay Area home sales decreased by 11 percent year over year in August, the second-largest decline following June’s 10 percent drop, dragging year-to-date sales down by 2 percent.
• Inventory continued to improve, up by 5 percent from August 2017 after 16 consecutive months of year-over-year declines.
• Eighty percent of the supply increase came from more inventory in Santa Clara County, followed by Sonoma and Alameda counties.
• Most of the increase in inventory was for homes priced between $1 million and $2 million.
• Affordability concerns are impacting budget-constrained buyers, especially in Sonoma County.
Posted by Calculated Risk on 9/12/2018 03:55:00 PM