According to information gathered by the Wall Street Journal and published on their website, the median price of homes in the East Bay of California has defied the national and state trend. Given all that has happened in the U.S. housing industry, the median price of homes in many of California’s East Bay communities remains stable or continues to appreciate. The California Association of Realtors recently referred to this as the California Conundrum.
Downward pressure on the median price of homes in the area is coming from the bottom third of the market.
Take a look.
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[...] In looking through this weeks Market Details Report for Walnut Creek, we see that it continues to reflect the general trend impacting the greater East Bay. Homes in the lower half of the market continue to experience downward pressure while the upper half of the market continues to add stability to the median home price. The upper quartile in the market continues to climb in value (homes priced above $1.3 Million) [...]