Real Property Report – California, August 2016

Real Property Report — California, August 2016

Peak or Plateau? California Year-to-Date Sales
Down 3.4 Percent, Median Prices Up 4.8 Percent

San Francisco Bay Area Year-to-Date Sales
Fall 10.4 Percent, Prices Subside 2.2 Percent

“In the same way that July sales were artificially depressed by fewer business days than the prior year, August sales were artificially goosed higher with more business days,” said Madeline Schnapp Director of Economic Research for PropertyRadar. “The best way to make sense of these calendar quirks is to step back and take a year-to-date view. When we do, we see slightly lower sales and higher prices, in perfect alignment with our theme since October 2015 – “Flat is the New Black.”