An Associated Press article in the SJ Mercury News today talks about prices rising for the 6th straight month. The article is posted here:
As a frequent news reader I'm sure you're wondering how we can get news like this after receiving comparable BAD news yesterday. What gives!? It's simple, bad news sells airtime and newspapers.
The media area still struggling with how to actually spin the recovery. Every major measure of a recovery has been good since summer 2009. We've seen consumer spending rise, unemployment drop (although it has wavered), construction spending rise, home sales prices and volume rise, etc. However, the media love disasters.
What I caution readers about is that the news is usually so general as to be irrelevant to the Bay Area or Los Altos in particular. Our area has seen median and average selling prices rise in recent months. We're seeing a balanced market without wild swings, inventory is relatively low and homes are selling relatively quickly.
2010 is going to be a good year for both buyers and sellers. Stay positive and take the news and stats with a grain of salt.