Given the credit crisis underway, you might expect to see downward pressure on our local real estate. Yet our listing prices, courtesy of Trulia.com, seem fairly solid so far.
If you stare long enough at the monthly numbers, then you’ll detect a slight softening for two and three bedroom homes. Listing prices have dipped slightly over the past two months – but it’s hard to call this a trend.
Surprising to me, because banks have pulled back on easy mortgages and increased their down payment requirements. I’m wondering when this tightening will impact real estate listings in the 94611 zip.
There are plenty of other influences playing here. Our available inventory isn’t that large, which may buttress prices. On the other hand, there are foreclosures which naturally push down numbers.
It would be good to revisit these prices, as a bellwether for our area.