Finally, More Bay Area Housing Inventory Arrives After 16 Months of Declines. Read more on the @bethanywpatten blog.
- The Bay Area’s decline in home sales (including single-family and condominiums) improved in July, with only 3 percent less activity year over year after a 13 percent decline in June.
- Sales of homes priced above $1 million — and especially those above $3 million — continued to fare better than they did last year.
- Inventory finally improved, up by 2 percent, after 16 consecutive months of year-over-year declines.
- Most Bay Area counties saw inventory improve in July.
- Overall Bay Area absorption rates for homes priced more than $3 million increased by 11 percent points, from 34 percent last July to 45 percent this July.
- The Bay Area’s median home price rose by 12 percent from July 2017.
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