The San Francisco real estate market is changing orbit. May is part of San Francisco's high season and home prices typically increase strongly. This year the home price index was flat in May and actually fell on an inflation-adjusted basis. San Francisco Home Price Index April to May 2012: +3.9% 2013: +4.3% 2014: +1.2% 2015: +1.3% 2016:...
UPDATE: Zillow greatly improved the accuracy of their Zestimates in June 2016 so I updated this post in July 2016. Post was originally published in July 2015. https://youtu.be/rfWzMI_VwTQ Note: I haven't updated the video to reflect Zillow's improved accuracy. The Problem You have a home for sale and Zillow's Zestimate for the house...
video
Zillow publishes the median percentage error of their Zestimates but I think it's a lot easier to think in dollars rather than in percentages. So I converted the published Zestimate percentage errors into dollar errors for 25 U.S. metro areas and the U.S. as a whole.
Remember when "shadow inventory" was going to eat the world? In 2010-2013, everyone was talking about how real estate investors were going to dump their homes on the market and it was going to cause "another leg down" in home prices? It never happened. By the summer of 2011, it was clear...
Did Blackstone Just Call A Market Top? https://youtu.be/6KbKzRuQ30c The famous single family home investor, Blackstone Group, has started to sell some of their homes to their tenants, according to this article in Bloomberg. "Invitation Homes started selling houses to renters in Phoenix and Sacramento, California, this year, with plans to expand the...