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The smaller amount reflects a slowdown in home-price growth, as well as an increase in the number of entry-level homes sold. Some counties have seen average property values nearly double during that stretch, including appreciation of more than 80 percent in Alameda, Contra Costa, Santa Clara and San Mateo counties.
Economists and realtors say a 40% share of first-time buyers is needed for a robust housing market. Home prices have outpaced wages and rents in about three-fourths of 755 counties analyzed by ATTOM Data Solutions. By one estimate,Â the region added 6 times as many jobs as new housing units between 2010 and 2015.
Annually since 2005, Gallup has asked Americans to predict whether home prices in their area will increase, stay the same or decrease over the next 12 months. These markets are steady enough that job opportunities are all around, keeping the state a prime locale for new residents, which in turn helps stabilize the real estate market and home value averages.
Home values rose 0.65% nationally in December, and posted a 5.35% year-over-year increase, according to the Quicken Loans HVI. Depending on the last time your house was rewired, you may be required to redo it before you can sell it. You can live in a house that is not up to code, but you can’t sell it.