Chief Economist Selma Hepp Weighs in on Market Price Trends for Inman
July 26, 2016
Marin, East Bay real estate markets see steady improvements. Despite a healthy turn toward normalization, prices in the Bay Area are still inching upward. Marin County and the East Bay decelerate price appreciation while sellers face a more lenient buying process. The East Bay market favored sellers with 80 percent of sales bringing multiple offers and selling above list price. In Marin County, buyers expressed less urgency, which in turn, limited bidding wars.
The normalization of the Bay Area market isn’t limited to San Francisco and Silicon Valley. The Marin County and East Bay real estate markets aren’t climbing as fast in price, while sellers face a more lenient buying process, according to Pacific Union’s second quarter report.
“Prices aren’t going down, but there’s a slow down in price growth,” said Selma Hepp, chief economist at Pacific Union. “There’s a huge inventory problem for our region, but I think we’re seeing a healthy plateauing of the market.”
Read the article at Inman.com