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We already knew prices had skyrocketed in New York City, San Francisco, and Honolulu. But it turns out plenty of other metro areas are seeing a serious rise in home prices, according to a report on Monday from the National Association of Realtors®. The news might put a little spring in a seller’s step—and a lot more fear in a buyer’s heart. Prices in many markets have been rising since 2011, but NAR’s latest quarterly report shows that “the number of areas experiencing double-digit price appreciation doubled compared to last quarter.” In the first quarter of 2015, 51 metro areas saw double-digit

In case more evidence was needed that the Bay Area offers a real estate market insanely favorable to sellers (and just plain insane for buyers), Trulia announced Wednesdaythat “the SF, SJ, and Oakland metro areas [are] the fastest moving markets in the nation.” With historic low inventory continuing across the nation, buyers aren’t waiting to jump on available homes, which means a trend of fewer days on the market (DOM). But this trend is most dramatic in California—the Bay Area most dramatic of all.  Trulia reports that “among the 100 largest U.S. metros, 8 of the 10 fastest-moving housing markets are in

The Bay Area’s hot economy and the limited number of properties for sale have pushed the median price for Santa Clara County homes to a record high, $879,000, and the rest of the region is not far behind. Prices Climb Median sale prices in Alameda County climbed to $665,000 in March, a hair below the 2007 peak of $669,500, according to data released Friday by real estate information service CoreLogic. After hitting a new peak of $1,060,000 in February, prices in San Mateo County dipped slightly to $995,000 but that mile-high figure still represented nearly a 5 percent increase over

A recent survey of California baby boomers, those born between 1946 and 1964, shows that they will continue to be a strong force supporting our real estate market. As the wealthiest generation, these baby boomers “will continue to wield great influence on the housing market,” says the President of the California Association of Realtors. “Even those who went through financial difficulties during the economic crisis recognize the benefits of home ownership and would rather buy another home than rent.” The survey found that 22 percent stated they expect to buy a home in the next five years. Of those baby

Most Americans are thrilled by the 50 percent reduction in prices at the gas pump. The strong U.S. dollar also helps our purchasing power for products manufactured outside the U.S. The real question is to what extent these shifts will positively or negatively affect the real estate industry. No matter how the real estate or the overall financial market changes, there are always winners and losers. In terms of the current downturn in oil prices and the surge in the U.S. dollar, the short-term impact for most agents will probably be positive. 1. The historical upside According to a recent

As housing recovers, prices in many markets across the U.S. have shot up. In fact, RealtyTrac reported that the median sale price of U.S. single-family homes and condos in October had reached its highest level since September 2008. Price appreciation and the lure of foreclosures created a feeding frenzy for real estate investors willing to pay cash and made it harder for traditional buyers to compete. But experts say that 2015 will be marked by a return to normalcy and balance for real estate markets across the country. Stan Humphries, chief economist for Zillow.com, predicts that home value growth will

The proliferation of online real estate information makes it easier than ever to be an informed consumer when buying or selling a home. Yet the digital revolution has done little to lessen the importance of choosing the right real estate agent to work with you. The right agent can help you buy your dream house or sell your existing home quickly. The wrong agent can botch the transaction, leaving you with egg on your face and nowhere to call home. Despite the high stakes, many buyers and sellers give little thought to choosing an agent, whether they’re buying or selling. Get recommendations

Not all real estate agents can help you get the home you want. When it comes to finding a good agent, you need to ask the right questions upfront to save yourself the trouble later. Real estate brokerage Redfin recommends that you ask every potential agent the 15 questions below before committing yourself to an agent. 1. Is real estate your full-time job? How many clients have you had in the past year? Okay, that’s two questions, but they’re actually the same. An active, full-time agent is much more likely to be up to date on the market and the local

California overall Year-over-year sales of new and existing houses and condos increased year-over-year for the FIRST time in a year. This year delivered the strongest September in 5 years. September delivered the 31st straight month of a year-over-year increase in the median sales price. This is still 19.6% below the all-time peak in 2007. Indicators of distress continue to decline: “Foreclosure activity remains well below year-ago and peak levels reached in the last five years.” A report released three days later declared: “Lending institutions initiated formal foreclosure proceedings last quarter on the lowest number of California homes in more than

It may get easier to find the home of your dreams. A 2015 California housing market forecast out Tuesday points to more homes on sale and fewer investors competing with families. It also has some good news regarding home prices, at least for those looking to purchase. “Next year, home price gains will slow, allowing would-be buyers who have been saving for a down payment to be in a better financial position to make a home purchase,” said Kevin Brown, president of the California Assn. of Realtors, which released the forecast. The report follows a continued trend in the California