To many a naysayer’s surprise, the 2020 real estate market boomed. Prices rose, sales increased, and investors continued to grow their wealth. In a recent article I found in Realtor Magazine, Lawrence Yun, Chief Economist at NAR, stated that even as early as August, 6 million existing and new home sales were recorded in the United States. From our own data reports on various counties in California, we have seen exponential sales growth from San Diego to Mendocino and beyond.
Just looking at San Francisco County for December, we find double the number of properties listed since 2019. In addition, more than half the single-family homes sold last month closed well over asking price. With inventory remaining low for the foreseeable future, prices should continue to rise ensuring a healthy accumulation of investors’ wealth.
We have found similar data in December for the San Fr