Intraday data delayed at least 15 minutes or per exchange requirements. Interested individuals should visit www.wellsfargo.com/lift for additional information and the steps to apply for down payment assistance. Contact Us (408) 748-7592 When the real estate market showed signs of softening after 2018, there was a lot of talk about an upcoming recession. The annual analysis by the real estate website PropertyShark described the region as the “uncontested epicenter of expensive housing,” which has 50 of the 121 zip codes with the highest median home sale prices on the country. Our third prediction for the California housing market in 2021 … But the February closed sales likely initiated/went into contract in January 2020. ‘It was hell!’ I stayed in an Airbnb on my parents’ street for Thanksgiving. While the COVID-19 pandemic has upended the Bay Area's rental market, the region continues to be the most expensive housing market in the country by far in 2020. 90402 – Santa Monica ($3.75 million) How COVID-19 has affected the Bay Area housing market With social distancing in effect, SF homes are like sunken treasure—incredibly valuable, but … Homebuyers can view a list of participating lenders and sign-up for homebuyer education with a HUD-approved provider at www.communityhdc.org/lift. The Bay Area housing markets with the largest year-over-year increases in the number of listings accepting offers in June 2020 were the 4 outer Bay Area counties of Monterey (up 61%), Santa Cruz (58%), Sonoma (47%), and Napa (37%). The Bay Area housing market has managed to hit new highs, and new lows, both in the same week. Stephanie Grant, 760-317-6505 Consequently, the San Francisco Bay Area saw a 37.4% decline in home sales - the biggest drop in over a decade from March to April 2020 of 2020. Latest on Bay Area Housing Market: Sale Prices Jump, Rents Fall During Pandemic By Scott Budman • Published August 3, 2020 • Updated on August 4, 2020 at 11:21 am NBC Universal, Inc. 8. A new report forecasting the real estate market in California shows a fairly sunny outlook for the Bay Area, though it notes the region may be facing some headwinds where it matters most: housing. The Wells Fargo Foundation has also distributed $175 million in donations across the U.S. in 2020, in response to the economic fallout caused by COVID-19. In fact, we’re seeing some early signs of this trend already. A gradual rise in inventory levels. Copyright © 2020 MarketWatch, Inc. All rights reserved. Five of the hottest counties in the areas reported higher than expected sales in October 2020, showing how the area is continuing to thrive and attract investors from across the country. North Bay Housing Prices. Cookie Notice. 30 on Fortune’s 2020 rankings of America’s largest corporations. For the 9 counties, the median price in June dropped back to June 2017 levels. Realtor.com 2020 housing market predictions: The U.S. housing market will continue to slow in 2020 as inventory reaches historic lows and economic uncertainty prompts … View source version on businesswire.com: https://www.businesswire.com/news/home/20201202005855/en/, Media The NeighborhoodLIFT program addresses several of the challenges facing potential homeowners, including engaging in homebuyer education, savings, and wealth creation. According to a recent study by the data analytics firm Moody’s, San Jose could see an increase in housing demand as people leave the much more crowded San Francisco real estate market. See more on the latest trends in California real estate. Monday, January 6, 2020 SAN FRANCISCO (KGO) -- Is too much money harming the Bay Area? 6. The MarketWatch News Department was not involved in the creation of this content. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Today’s expansion of the NeighborhoodLIFT program is Wells Fargo’s 80th LIFT programs launch and follows similar Bay Area initiatives in 2012 and 2017 that assisted 536 homeowners with down payment assistance with a combined $16 million investment by Wells Fargo. November 2020. In both the Bay area and Southern California, the new listings are primarily in the million and below range. The winner of that unfortunate designation is the Bay Area. Top 10 Priciest Zip Codes 2020 (Bay Area Locations In Bold): 1. “This is my house now and I don’t need to rent any longer.”. Updated April 2020. Historical and current end-of-day data provided by FACTSET. As we roll into September, the bay area August sales data continue last month's trend - single families are selling higher and seller while condos are selling lower and lower. The program is part of the Wells Fargo Foundation’s commitment to donate $1 billion in support of housing affordability solutions across the U.S. Additionally, since 2016, Wells Fargo has financed 34 affordable housing developments in Alameda, Contra Costa, San Francisco, San Mateo, Santa Clara, and Solano counties. 2. Because of COVID-19, the NeighborhoodLIFT program for six Bay Area counties is redesigned to virtually assist low- and moderate-income homebuyers purchase a home in Alameda, Contra Costa, San Francisco, San Mateo, Santa Clara, and Solano counties through the collaboration with the nonprofits. ©2020 CBS Broadcasting Inc. All Rights Reserved. Five of the hottest counties in the areas reported higher than expected sales in October 2020, showing how the area is continuing to thrive and attract investors from across the country. In a stunning turn, New York City has zero zip codes among the 10 priciest this year, but the Empire State had 20 on the priciest zip codes list. Housing Market Update for the Greater Bay Area. SF Bay Area Housing Affordability - Q3 2020. Apocalypse SF Bay Area real estate market in 2020? ... Real Estate; Newsletter; San Francisco Bay Area Market October 2020 Update; San Francisco Bay Area Market October 2020 Update. Participating homebuyers can obtain mortgage financing from any participating NeighborhoodLIFT lender, and Community Housing Development Corporation will determine eligibility and administer the down payment assistance. Consequently, the San Francisco Bay Area saw a 37.4% decline in home sales - the biggest drop in over a decade from March to April 2020 of 2020. Chris Hammond, 415-310-9152 Fifteen of the zip codes are in Santa Clara County, while another 11 are in San Francisco and 11 more are in San Mateo County.
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