July 2022

The Bay Area's once-scorching hot pandemic housing market continued to cool in June with home prices plunging to the largest monthly drop for this time of the year in at least three decades which means people who sold their home between January and April this year basically won the lottery. In May, the market Alameda single family home sale prices dropped more than 13% from May to June with 35% fewer homes sold than a year ago June. Sale prices from June to July saw very little change price wise. However, homes are taking longer to sell and there were 42% fewer homes sold in July 2022 compared to July 2021. August is typically a very slow summer month with one last burst of sales activity in September and October to end the yearly sales cycle.