What to expect in 2011
November 5, 2007 by Gordon Corsie · Leave a Comment
I keep getting asked when will house prices start rising, will it be next month, the spring perhaps well to answer that one we need to look at some cold hard facts.
Currently in Livermore CA we have well over 300 homes for sale, with an average sell rate of @ 40 -50 per month. In Pleasanton CA the picture is a little more balanced with @ 200-250 available homes for sale and the same sell rate. What this means is that we still have an oversupply of both new and resale properties for sale in and around the Tri-Valley area.
Historically slowdowns affect the Real Estate market in this area every 7 – 8 years and this one is long overdue. However since the Fed has relaxed rates I sense that we should see a flatter market developing next year with a turnaround and price appreciation starting in spring of 2012 – 2013.
Click here for homes for sale in Livermore CA and Pleasanton
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