Starting this month I will be writing about the monthly Home Sales/Real Estate trends in Bay Area. Look out for this update between 15th and 20th of every month. The update will be for month before.
Data Quick reported that Home Sales in the Bay Area jumped to their highest levels in 3 years. The median price paid for a home also increased month-to-month for 3rd month in a row.A total of 8,644 new and resale houses and condos sold across the nine-county Bay Area in June. That was up 16.1 percent from 7,447 in May and up 20.4 percent from 7,178 in June 2008, according to San Diego-based MDA Data Quick. The table below breaks down the numbers:
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Real Estate Trends
Housing approaching a trough
In the summary of Fed's late-April meeting released yesterday, there were some important pointers to the economy:
Fed officials saw the economy contracting between 1.3% and 2% this year and the GDP was only expected to advance 2%-3% next year. The Unemployment rate is expected to end 2009 between 9.2% and 9.6%, higher than what officials expected in January. Note that for Santa Clara County the unemployment rate at the end of March 2009 was at 10.8% and for Alameda county was at 10.5%. (more…)
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