Speaking to reporters in the last quarter, Federal Chairman, Jerome Powell, made it clear that going forward, the U.S. housing market would get “reset” by a “difficult correction.” We can see that happening in the counties listed below.
This a report based on home and property sales data from the week ending December 28, 2022:
Contra Costa County
Median List Price: $630,000
Average Days on Market: 81
Inventory: 951
Price increase: 4%
Price decrease: 39%
Alameda County
Median List Price: $962,000
Average Days on Market: 85
Inventory: 761
Price increase: 3%
Price decrease: 37%
San Joaquin County
Median List Price: $563,750
Average Days on Market: 86
Inventory: 1016
Price increase: 3%
Price decrease: 47%
Santa Clara County
Median List Price: $1,599,000
Average Days on Market: 90
Inventory: 749
Price increase: 2%
Price decrease: 36%
While some markets may be down double-digits, they are all still well above pre-pandemic home prices. Real estate remains the safest investment by far according to the experts.
If you are looking to invest in real estate this year – by purchasing property or investing in deeds of trust for higher return – Sun Pacific Mortgage has the answer. Call us at 707-523-2099 or visit our website www.sunpacificmortgage.com to find out more.
