Bay Area RE Market Update - May 2019
Hello Friends, My May market update is the blog post from Tom Tognoli, who is the co-founder and former CEO of Intero. Tom has gracefully consented to post his blog on mine and it aptly fits into my bi-monthly RE market update. A link is provided at the end of the article to Tom’s own blog. Happy Reading. As always call me, text me or email me if you or anyone you know are in the market to buy or sell a property. Thank You! Don’t Freak: San Francisco Bay Area home prices fall for the first time in 7 years May 16, 2019 First, don’t freak out…it’s old news. In Q1 of last year (2018) the Bay Area housing market went a bit crazy. Depending on where you live, it’s like the real estate market got a jolt of adrenaline at the end of Q1 last year. Property values literally shot up 10% to 15% in 90 days. It was stupid and unsustainable. In Q2 of 2018, reality set in and property values gave most of that 90-day gain back in what seemed like a week. It needed to happen. It litera