It is our pleasure to bring you the NorCal Monthly Market Insights Report for May.
As of May 5, mortgage rates were up 69 percent in 2022, inflation is at a 40-year high, and stock markets are significantly down. The housing market is beginning to show preliminary, but not universal indications of cooling. Less crowded open houses and fewer offers on new listings are becoming more common. Some buyers are dropping out or becoming more selective, and some sellers are moving listing dates forward. In many markets, declines in listings going into contract occurred in April. But closed sales statistics, a lagging indicator, still reflect high demand and increasing prices.
Please use the links below to access monthly market updates by Bay Area region.