Happy New Year! As the new year kicks off, I wish I had a crystal ball to predict what's in store for this year's market.
For 2020, economist Ken Rosen expects the Bay Area median price to remain basically flat, within a general range of up or down 2%. In other words, similar to what happened last year. We can’t predict the future, but that doesn’t sound unreasonable, and avoids the sensationalism of many other media-grabbing forecasts.
Looking back at 2019, Santa Clara County prices dropped the most in the Bay Area. However, it also appreciated the most in 2018. Indeed, Santa Clara County may have been the hottest market in the country from mid-2017 to mid-2018, before cooling down. For city specific stats, please see graphs below.
Planning to make a move this year? Let's start the conversation.