Three Months of Shelter in Place, How has the Real Estate Market Reacted?
After three months of shut down, businesses closed, jobs lost and lives changed there has been a constant rhetoric of a real estate market and the economy bounding back. Low interest rates have been a dominant source of reason to buy; along with, it will be better. Newspapers and other media have vacillated between good times ahead and danger in the wings. Here is how the dominant Silicon Valley real estate markets have performed. In general all but two have seen sales below list. In most instances 5-6% below list. Homes for sale have out distanced sales. Sales and listings have been below normal. With the next week being a time of relaxation of rules and a return to work it will be of interest to see how home buyers and sellers will react. (CLICK THE HI LIGHTED CITIES FOR GRAPHS) In the Five County area homes for sale have risen from 11,436 in April to 16,028 in May. Sales have declined from 9,424 in April to 8,177 in May. In Atherton days on the marke