Sam Shueh
The recent cyclic stock market and historically low gas prices seem not to make a dent on current home prices. The following data is compiled from Corelogic(was a First American Title's valuation subsidiary). One would expect home price erosion from the oil industry job loss. The Houston previously owned home prices went up by 5.7% compared to Jan 2015. It does not seem to have an immediate impact there. The table below is a comparison from Jan 2015 to Jan 2016.
I am in South San Francisco Bay, our area have a home price increase at par with San Francisco area. Some lower priced neighborhoods are in historically high price range as more expensive neighborhood prices are not affordable at the moment. People are willing to commute more to own vs a rental housing.
| Metropolitan area | Yearly Price Change |
| Boston, Ma | 4.8% |
| Chicago-Naperville-Arlington Heights, IL | 2.3% |
| Denver-Aurora-Lakewood, CO. | 11.8% |
| Houston-The Woodlands-Sugar Land, TX | 5.7% |
| Las Vegas-Henderson-Paradise, Nv. | 5.3% |
| Los Angeles-Long Beach-Glendale, CA | 7.2% |
| Miami-Miami Beach-Kendall, Fl | 7.8% |
| New York-Jersey City-White Plains, NY/NJ | 3.9% |
| San Francisco-Redwood City-South San Francisco, CA | 11.6% |
| Washington-Arlington-Alexandria, DC, VA/MD/W VA | 2.5% |
As for the rest of the nation NAR compiles more stats and one can download from this article EXISTING HOME SALES
Lawrence Yun, NAR's economist added. "Such strong pricing power is certainly good news for homeowners but I’m not so sure it’s good news for the economy.” But despite all that, demand seems to have stayed steady. Yun's presentation under Existing Home Sales.
2016 is a strong market we needing more housing. The affordability will become more an issue in high rising metros. But sellers waited from 2005 until now to have a large enough equity. Others need to find a replacement home which costs a lot more.
There is no housing bubble in 2016.
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Sam Shueh Realtor
I've called San Francisco South Bay home for over 37 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes. I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call. Silicon Valley Realtor Sam Website (Four-O-Eight) 425-1601
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