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VALLEJO MARKET VALLEJOHOUSING HOUSING MARKET CHARLES REYNOLDS market with gains of less than three percent dominating the market in 2020.
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“Pessimism is one way to put it,” said Zillow senior economist Cheryl Young while also noting that the local home prices have been flat over the last 18 months. She also noted that the decade long record-breaking escalation in prices “really wasn’t sustainable anymore.”
Zillow conducted research of more than 100 economists and industry insiders in which it found that most of them think that the Bay Area median home values will rise more slowly than the national average. Over the last decade, we’ve seen prices soaring higher, but now, there should be some level of normalcy in the
The first signs of a fatigued market began manifesting back in 2019. Sales and prices were falling in the core Silicon Valley counties. So, what is expected of the 2020 housing market is a soft market that could be characterized by ups and downs influenced by several forces, including low unemployment and interest rates and a likely destabilizing electioneering period.
ousing experts and economists are not sure about the future of housing in the Bay Area in 2020. However, they are also telling us that we shouldn’t be hopeful of a crash bringing saner prices or slower prices any time soon.
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THE POWER IS NOW MAGAZINE | MARCH 2020
