Diablo Valley Home Prices, Market Trends & Conditions May 2023

Over the past 40 years alone, the San Francisco Bay Area has seen 4 major upcycles or housing booms. In each, there have been enthusiasts who argued that this time the boom times would never end – but each ended, typically after hitting a final peak of what economists call “irrational exuberance.” Upcycles were followed by market corrections or down-cycles, during which many predicted (often gleefully) that the Bay Area was on an endless downward spiral – but recoveries followed.

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