Weekly Newsletter: The 3-1-1

Apr 9, 2021

This week The 3-1-1 is all about real estate.

In one of the more surprising twists of the Covid-19 pandemic, the residential real estate market has done exceedingly well. This weeks articles, chart, and quote provide further insight and information.

3 Articles

Bay Area Home Prices Soar on Suburban Land Rush
Louis Hansen, San Jose Mercury News

Tight inventory and high demand for traditional suburban neighborhoods drove up median prices for an existing home in Contra Costa County 25% to $737,000, and up nearly 13% to $1.6 million in San Mateo.

The Housing Market Is Crazier Than It’s Been Since 2006
Nicole Friedman, The Wall Street Journal

The past year has been the hottest for sales activity in 14 years. Home values are rising in practically every corner of the U.S., and median sale prices in dozens of metro areas have posted double-digit percentage increases from a year ago.

But…What If Housing Prices Aren’t As High As They Appear?
Ben Carlson, A Wealth of Common Sense

This article looks at the median home price across this country, and shows how, after adjusting for inflation and interest rates, monthly mortgage payments are now 30% lower than they were in 1989.

1 Chart

Nationwide home prices were up 11% over the past 1 year.

See how specific ares have done in the table below:

    1 Quote

    “[Housing] Prices are up virtually everywhere…It is surprising to see home prices rebound this quickly, by this magnitude, this early into an economic recovery.”

    – Mark Vitner, senior economist at Wells Fargo & Co. 

      Bonus Content | Articles by Will This Week

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        Past performance is no guarantee of future returns.

        The graphs and charts in this commentary are for illustrative purposes only and not indicative of any actual investment. Index returns do not reflect any fees, expenses, or sales charges. It is not possible to invest directly in an index. Stocks are not guaranteed and have been more volatile than other asset classes. Historical returns were the result of certain market factors and events which may not be repeated in the future. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgement in determining whether investments are appropriate for clients.

        This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities.

        1. Data from Morningstar. Returns over one year are annualized.

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