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Home Prices on the Rise

By
Real Estate Agent with Compass CA DRE# 01215160

Home prices expected to rise in the San Francisco-San Mateo-Redwood City metropolitan area

CNNMoney.com published an interesting article on September 15, 2010 entitled California housing prices on the rebound. The statistics they use mirror what I've found in many of the Peninsula cities in which I work, like San Carlos, Belmont, Menlo Park, Redwood City. The article gives an opinion of why home prices in this area are expected to rise, (and in some areas the rise is taking place now) and gives encouragement to other areas of the country.

In a nutshell, this is what's expected to happen here:

Real estate forecast: SF-San Mateo-Redwood City area

Here's their calculator where you can check your own area. Real Estate-Your Local Forecast

 

Comments (5)

Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I see a forcast of an up turn but not an upturn yet, correct?

Sep 16, 2010 07:02 PM
Tom Priester
Paradise Sharks - Jupiter, FL
Paradise Sharks

Lottie, thank you so much for sharing your local market data. It is always very interesting to see how the market is behaving in other parts of the country. Cheers!

Sep 16, 2010 10:37 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Mark/Tim: The chart shows the forecast; the article talks about the current upturn. It's certainly area based and by no means all over, or even all over California. The San Francisco metropolitan area rose 14.3%. Numbers of sales are down, but prices have risen in many (not all) of our local cities.

Sep 17, 2010 02:19 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Tom, glad you found it of interest. The article talks about the San Francisco area (of which San Mateo County is a part) but the forecaster has many different areas.

Sep 17, 2010 02:21 AM
Mary Kay Hopkins
Mary Kay Hopkins, LLC e-PRO, GRI, CRS, CRB - Lake Charles, LA
e-PRO,GRI,CRS

Lottie, always nice to hear good news, especially when it is backed by someone who knows what's truly happening in the market place.  Great post.

Sep 17, 2010 02:59 PM