Bay Area home prices drop and San Joaquin Valley home prices rise

SFOBBnight

As we read news about the flooding of San Joaquin Valley by those intrigued by its attractive home-sale prices, Mercurynews.com reported this morning a decrease in Bay Area home sales, and prices.

The drop was just under 2 percent, bringing median home prices from $540,000 in August to $530,000 in September, with three main contributing factors according to DataQuick’s release report.

“The frenzied pace of the housing market was tempered by high interest rates, increase numbers of homes for sale and fewer of the investor purchases that have pushed prices up all year,” according to Mercury News reporter Pete Carey.

San Joaquin Valley home prices seem to be on the up and up as a growing number of Bay Area homebuyers are looking to escape the comparably expensive costs of living in the Bay. San Joaquin Valley is currently experiencing heavier investor activity, “record low mortgage rates,” and a tight inventory.

Please read “Bay Area home sales, prices drop in September,” for story details.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s