Central Valley Home Prices Are Edging Up

Have you heard the latest?  Home prices in the Central Valley are edging up!  I know it's crazy, but yes it's true!  The data over the past 15 months shows price per sq. ft has increased by 5.8% in Stanislaus County.  It's modest yes, but it's a move in the right direction.  Now we won't know for a few months if the tax credit over the past year had anything to do with the increase in home prices.  Or if the low inventory is making it more suitable for a "sellers" market, causing an upswing in home values.  

The graph below contains data for Merced County.  The stats are very similar, with price per sq. ft. increasing by 8.7% over the last year.  If you look at the graph, the prices have been very stable over the last 15 months, there have been no sharp decreases. 

This is all very encouraging news for both buyers and sellers entertaining the thought of entering the real estate market.  It's the perfect storm and this type of opportunity may never present itself again.  Remember, we never know when the market has hit bottom until it starts to increase.  Take steps now and make your move in the real estate market.