If both interest rates and home prices soar, there is a double whammy on housing affordability. It is very difficult to accurately predict interest rate changes: 3 months ago, Freddie Mac predicted an average, 30-year, fixed rate of 3.6% for 2022; at the end of March, it hit 4.67%.    

The post Diablo Valley Home Prices, Market Trends & Conditions April 2022 first appeared on PEB.

For buyers financing their purchase, interest rates play an enormous role in monthly housing costs. Depending on the speed and scale of changes, declining interest rates can help supercharge demand, as they did in 2021, while rapidly increasing rates typically cool the market, as occurred in the 2nd half of 2018.    

The post Lamorinda Home Prices, Market Conditions & Trends April 2022 first appeared on PEB.

The prevailing dynamic remains one of the strong buyer demand competing for an inadequate inventory of listings for sale: Crowded open houses, multiple offers, fierce overbidding, and fast sales remain common.  

The post Diablo Valley Home Prices, Market Trends & Conditions March 2022 first appeared on PEB.

So far in 2022, Bay Area real estate markets appear largely unfazed by higher interest rates, volatility in financial markets, and troubling international events.  

The post Lamorinda Home Prices, Market Conditions & Trends March 2022 first appeared on PEB.

2021 was one of the most frenzied real estate markets ever, with buyer demand far exceeding the supply of listings available to buy – and all the usual indicators, including home price appreciation trends, reflected this severe imbalance.  

The post Diablo Valley Home Prices, Market Trends & Conditions February 2022 first appeared on PEB.

In the Bay Area the “spring” market can begin in February. Compared to the general market, luxury home buyers tend to be less sensitive to interest rate movements, but more sensitive to turbulence and uncertainty in financial markets.  

The post Lamorinda Home Prices, Market Conditions & Trends February 2022 first appeared on PEB.

29% of CA sellers planned to buy again in same county (lowest % in at least 16 years) 35% planned to buy in another state (highest % in at least 16 years).

The post Diablo Valley Home Prices, Market Trends & Conditions January 2022 first appeared on PEB.

Most CA Realtors noticed at least one of the following in buyer preferences since the pandemic: Opting for bigger home 22%, less concerned about commute 22%, buying houses instead of condo/townhome 21%, opting for suburban instead of city location 19%, choosing rural instead of urban suburban location 13%.  

The post Lamorinda Home Prices, Market Conditions & Trends January 2022 first appeared on PEB.

November and December typically see very significant seasonal slowdowns in market activity, and in January, we will issue our 2021 market review, looking back at what has been one of the highest demand markets in history.

The post Diablo Valley Home Prices, Market Trends & Conditions December 2021 first appeared on PEB.

November and December typically see very significant seasonal slowdowns in market activity, and in January, we will issue our 2021 market review, looking back at what has been one of the highest demand markets in history.   

The post Lamorinda Home Prices, Market Conditions & Trends December 2021 first appeared on PEB.