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Home » Year-over-Year Changes in Median Home Sales Prices

Year-over-Year Changes in Median Home Sales Prices

Year-over-Year Changes
in Median Home Sales Prices
Generally speaking, the first months of 2020 have been characterized by year-over-year increases – often considerable – in median home sales prices across the Bay Area.

Shelter-in-place caused steep drops in activity across the board in what is typically the busiest selling season of the year. However, though still far below normal levels, activity has been picking up since bottoming out in late March/early April, and will presumably continue to do so with the easing of both shelter-in-place and property-showing rules.

So far, home prices have increased, but a fair proportion of the sales behind April median sales prices still reflects offers accepted prior to shelter in place.

Interest rates hit a new historic low in the last week of April.