Peninsula Real Estate Market UpdateWe see 2015 with a divided landscape: an improved US economy and weakness just about everywhere else. The Dow rose for the sixth straight year in a row, gaining 7.5%, the S&P 500 rose 11.4%, the dollar is poised to keep rising, and it is anticipated that the Fed will raise interest rates sometime soon. California's overall economic growth is outpacing the nation, and the Bay Area's job market is especially impressive. This booming labor market has driven median home prices in the area up beyond their pre-recession peak.San Mateo County sales are down compared to the prior year. Some of this is attributed to the continued low levels of inventory, and some may be due to the affordability factor. We have barely one month's supply of homes for sale, compared to more balanced markets with 6 month's supply. Many homes are selling with multiple offers and overbids. Home prices continue to rise, up 12% from last year. It takes patience, and a good agent, to get the home you want.