June 2025

Recent housing market indicators show persistent weakness in home prices, including consecutive month-over-month declines. That’s as housing supply has increased while demand has stayed tepid amid still-high mortgage rates hovering around 7%. The slump in prices raises the risk of a prolonged downturn, according to Capital Economics. In a note on Tuesday, Thomas Ryan, North America economist at Capital Economics, warned that the back-to-back declines could signal a “deeper correction” ahead. “After falling in March, the further 0.3% m/m decline in house prices in April raises the risk that prices are entering a sustained downturn, as the market finally buckles under the weight of near-7% mortgage rates,” he added.  

With all that said, does Alameda follow the trend?  Yes and no.  The average single family home sale price has gone UP nearly $150,000 in sale price from twelve months ago while condos have gone DOWN about $15,000.  If we look at duplex sales from the first six months of 2024 versus 2025 we will see the average sale price has dropped nearly $61,000.