Market Connection: August 2024 Market Outlook and Report

Kyle Henry • August 22, 2024
Survey: Buyer’s Remorse Rooted in Surprise Property Issues

3 Reasons Why We’re Not Headed for a Housing Crash

The housing market is always a hot topic, and concerns about a potential crash can make anyone uneasy. However, the current market dynamics are very different from those that led to the 2008 crisis. Here are three compelling reasons why we’re not headed for another housing crash:


1. Inventory of Homes for Sale is Still Below Normal

One of the most significant indicators of a stable housing market is the inventory of homes available for sale. Historically, a balanced market has around 5.3 months of inventory, which is the average from 1993 to 2023. Currently, we're still below this average, which means there’s less risk of a surplus driving down prices. The limited supply helps maintain home values, reducing the likelihood of a crash.

(Even though supply of existing previously owned homes is growing, It's still low.)



2. Builders Aren't Overbuilding; They're Catching Up

Before the 2008 crash, there was a wave of overbuilding that flooded the market with new homes. Today, that’s not the case. Builders are working to catch up after more than a decade of underbuilding, and single-family housing units are being completed at a steady pace. This careful approach to construction means we’re not seeing the same glut of homes that contributed to the last crash, making the market more resilient.


3. Foreclosure Filings Are Still Very Low

During the housing crash, foreclosures spiked dramatically as many homeowners found themselves unable to repay their loans. In contrast, today’s market is seeing very low levels of foreclosure filings. The quarterly number of consumers with new foreclosure filings remains in the thousands, but this is far from the crisis levels we saw in the past. The low foreclosure rate reflects the stronger financial position of most homeowners, further reducing the risk of a market collapse.

"We will not have a repeat of the 2008–2012 housing market crash. There are no risky subprime mortgages that could implode, nor the combination of a massive oversupply and overproduction of homes". -Lawrence Yun, Chief Economist, NAR


While it's natural to be cautious about the future, the current housing market is built on a solid foundation. Unlike the conditions leading up to the 2008 crash, today’s market is supported by lower inventory levels, responsible building practices, and a stable rate of foreclosures. As Lawrence Yun, Chief Economist at NAR, wisely noted, we’re not facing the same risky elements that once led to a catastrophic downturn. The housing market may experience fluctuations, but a crash is not on the horizon.


Top San Francisco bay area Real estate agent - Caroline k. Huo's take on market trend

MY TAKE

Caroline's take on the latest market trends

In today’s market, it’s understandable to feel concerned about a potential housing crash. However, a closer examination reveals that the underlying fundamentals are far stronger than in the past. Inventory levels remain well below historical norms, builders are proceeding with caution, and foreclosure rates are still low. Unlike the conditions that led to the 2008 crash, today’s market shows no signs of the same vulnerabilities.

Contact us today to discuss your specific situation and develop a personalized strategy to achieve your real estate goals.


Market Report August 2024

Here's the latest August 2024 Market Update showing year-over-year data. The data includes all Single-family homes, condos & Townhomes in the California Area sourced from MLS Listings for the period from July August thru August 2024. This may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Content from this article is courtesy of Keeping Current Matters.

FOR NEWS INQUIRIES


Kyle Henry

Director of Marketing


Kyle.H@CarolineHuo.com

650.727.1308

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By Caroline Huo September 30, 2025
For more than twenty-two years, it has been one of the greatest honors of my life to guide hundreds of clients through their real estate journeys. Each family, individual, or estate I have served, each transition I have helped steward, has reminded me that real estate is not just about houses, it is about lives, stories, milestones, and the places we call home. To be trusted during such meaningful moments is a privilege I will never take for granted. Recently, I have taken time to reflect on the chapters of my own life. Inspired by the book "The Five Types of Wealth" and by precious time with my family, I recognized the importance of aligning my professional work with the season of life I am in now. This reflection has led me to a deliberate and exciting transition—one that honors my family priorities, strengthens our ability to serve clients, and creates a foundation for the future. What This Means for You First and foremost, I want to reassure every client, partner, and friend reading this: I am not going anywhere . I remain here for you, deeply engaged in the work I love most - providing guidance, strategy, and thoughtful counsel throughout your real estate journey. What is changing is how our team is structured to serve you more efficiently. I am evolving my role to focus on client relationships and strategic direction, while stepping back from some of the day-to-day operational tasks. This allows me to dedicate time to co-leading the Keller Williams Luxury Division internationally, building educational programs that raise real estate standards across the industry, and pursuing projects that create meaningful impact for my colleagues and my family. Introducing Meridian Partners This new season also means the evolution of our real estate team into Meridian Partners, led by my trusted partner, Rob DeContreras. Many of you already know Rob well. Before joining our team two years ago, Rob was a nationally ranked top-performing private mortgage lender with a reputation for integrity, strategy, and client service. His transition into real estate was a natural extension of his skills and passion for helping people through some of life's biggest financial and personal decisions. Since then, Rob has been side by side with me in guiding clients, handling transactions, all with the trust of our community. Rob is more than a partner as he is someone I trust implicitly. He embodies the same values of excellence, diligence, and care that have always been at the heart of our work. Rob will now lead Meridian Partners in client development, service, and day-to-day transaction management, while I remain deeply engaged in oversight, strategy, and guidance. Together, we bring you over four decades of combined experience, a seamless approach to service, and a shared commitment to doing what is right. For you, this transition means the same high level of care, trust, and excellence you have always experienced—now with two industry leaders guiding you. Why "Meridian"? When choosing a name for this new chapter, we wanted something that captured the spirit of who we are and what we do. Meridian represents balance and connection - an invisible but essential line that brings orientation and clarity. Just as meridians have guided travelers across the globe, Meridian Partners reflects our role in helping clients navigate the complex, often emotional journey of buying or selling a home. It is a name that speaks to constancy, direction, and trust. Partners underscores what has always set our work apart: the belief that real estate is not a transaction, but a relationship. We stand with our clients, allied professionals, and community as true partners in every sense of the word. Looking Ahead As I step into this new chapter, I do so with gratitude. Gratitude for the hundreds of clients who have trusted me, for the extraordinary team members and professionals who have collaborated with us along the way, and for the chance to shape the next generation of our business. With Rob leading Meridian Partners, I am confident that we are positioned to continue the legacy we have built and create a new one. This is not an ending; rather, it is a thoughtful evolution. If you would like to connect with me directly, I welcome your call or message. You can also learn more about Rob and explore the vision of our new team at MeridianPartnersRE.com . We are in full operation, just under a new name, and we look forward to working with you! All My Best, Caroline
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By Marketly Team August 28, 2025
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By The Caroline K. Huo Group August 2, 2025
 We are thrilled to share that our very own Caroline K. Huo was a featured panelist at this year's Inman Connect in San Diego held last July 30! Caroline graced the Main Stage, joining a distinguished group of industry leaders for a powerful session titled, "Inside the Minds of Today’s Buyers." She shared her expertise alongside panelists Erin Krueger and Christie Duguid, with Lindsay Listanski expertly moderating the discussion.
By Marketly Team July 30, 2025
Weekend escapes do not have to mean sacrificing style. For design lovers, a getaway is as much about the space as the scenery. And in Northern California, it is possible to have both. From cliffside cabins that disappear into the redwoods to midcentury beach houses perched above the Pacific, these five destinations offer immersive beauty, thoughtful architecture, and a sense of place that lingers long after the drive home.  Whether you are looking for inspiration, planning your next retreat, or imagining your own second home, these design-focused destinations invite you to live a little more beautifully—even just for the weekend.
By Marketly Team July 30, 2025
More inventory was bringing balance to our usually fast moving market; or at least, it would have. Instead of steady sales activity, we’re now seeing a pattern of sellers who are stepping back. In fact, San Mateo County just recorded its highest rate of listing cancellations this year. Homes are being pulled off the market, just as summer inventory was gaining momentum. So what’s driving the cancellations, and what does it mean for both buyers and sellers trying to read the market in real time?
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