Did Your City Make The Recovery List

Did Your City Make The Recovery List

As with previous housing cycles, the nation follows California's lead. When the downturn happened, it was California to lead the housing market into the doldrums. In Spring of 2012 I recall mentioning the robust activity to other Real Estate professionals that I worked with in cities such as New York, Phoenix and Orlando, and they were amazed and actually seemed skeptical of activity we were seeing with multiple offers and homes exceeding 10% of value with buyers making up the offer price and appraisal difference to close escrow. Well now they are seeing that in their own markets and have been since the beginning of Spring 2013.

If you look at the recent real estate market from July, the data shows a 5.24% decline in housing inventory. This trend continues in California on a year over year basis and fortunately you will see many other states with similar data and they are now participating in the overdue rebound and subsequent appreciation in their respective markets. Many California cities still make the list and actually round out 6 of the top 10 and many California cities have been bumped down the list by some of the nation’s hardest hits cities now finally seeing a very strong rebound.

Market leaders for year over year appreciation include: Stockton, CA, Detroit, CA and Orange County, CA. These trends all point towards another positive year in 2014 and continued appreciation for the remainder of 2013 for nearly every market in the U.S.

Our market in the East Bay is expected to appreciate in 2014 between 10%-18%. 

Statistics were pulled from a recent story on Realtor.com 

Kevin R Kieffer, Broker Associate with Keller Williams Realty
Offices in Danville & Walnut Creek, California

Kevin Kieffer Headshot
Phone: 925-300-8000
Dated: August 29th 2013
Views: 1,550
About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Compass. His primary focus is the East...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Compass Real Estate DRE 01527235
1646 N California Blvd. Ste. 101
Walnut Creek, CA

Other Locations