Yes, there are still two months left in 2020 but real estate professionals are already looking ahead to 2021. After a steep decline in March and April, Bay Area real estate has rebounded with median home prices as high as they’ve ever been.
Analysts expect the trend to continue into early 2021. Currently, the inventory of available properties is at 1.9 months which definitely indicates a seller’s market. This could prices up even more.
While prices remain high – and are projected to climb even higher – historically low mortgage rates are a major inducement for buyers.