Interest rates are on the rise and the market is shifting quickly! Buyers are leaving the market and sellers are coming into it. What does this mean about the value of your home? Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty. Let’s take a look at what experts are saying about how home prices and home appreciation is going to behave in the coming years.
The biggest thing I want everyone to hear is that experts are not saying that the market is going to be crashing, this is not 2008. Realtor.com says, and I quote “…Experts don’t believe the market is in a bubble or a crash is in the cards, like during The Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.” The housing market, like any other market, is all about supply and demand. With the largest generation entering the housing market creating huge demand, and not enough homes available to keep supply up, we are still waiting for the market to even out, but we are not waiting for it to crash. The interest rate hikes have aided in the market normalizing, which may seem all doom and gloom, but if you compare it to how hard it was for the average buyer’s purchasing power to have the ability to even get into a home with all of that CRAZY COMPETITION, it’s not as bad as the news makes it seem… and I get forwarded a LOT of news articles that enshroud the stabilizing market in gloom, I guess to get clicks? BUT! It’s not what they’re saying.
GIVE ME A CALL! and let us help you navigate the shifting market and the best decision for you to make with your home.
Whether it’s YOU, or SOMEONE YOU KNOW, I’m here to help with your home buying and selling needs and take amazing care of you. I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty and I’m always here to help. Reach out anytime even if you’ve just got questions.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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