As the sale of single-family homes slowly rose in August and buyers finally attempting to negotiate with sellers, some believe that a price break is on the horizon for the Bay Area housing market. The Mercury News staffer Richard Scheinin takes a look at price adjustments seen in the market but explains that the regional markets are complicated and it is no guarantee that total change is on the way.
While Santa Clara County’s median price remained at $925,000 for August this was no guarantee that a new trend is starting:
It was the first time since February 2012 that Santa Clara County failed to register a year-over-year price gain. The county reached its peak in April and May, when the median hit $1 million.
The end of the county’s four-year streak isn’t necessarily a big deal. “I don’t think one month makes a trend.”