Read MoreWhen hot markets shift cooler, effects are typically first reflected in reductions in multiple offers, overbidding and the number of homes going into contract; gradual increases in active listings and time-on-market; and gradual declines in year-over-year appreciation rates.
The post Lamorinda Home Prices, Market Conditions & Trends May 2022 first appeared on PEB.
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.
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.
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.
