You may see over the next few months that the housing market is increasing drastically as compared to year over year from last year around this time. Last year data covering March, April, May and June we saw significant decreases in the housing market because of that unfortunate little C word. I have a feeling the news and headlines in the upcoming months are going to boast of massive increases as compared to last year (the media tends to do that a lot), but that’s not really the case.
We have certainly had a great year as far as home appreciation in the housing market due to the one of the lowest inventory levels I’ve ever seen in conjunction with one of the lowest interest rate levels. But, if you compare last year’s numbers to this years, it will seem strikingly different.
It’s not so much the market, as it is what was happening last year at this time as compared to what is happening now. (SHOW GRAPH ON SCREEN HERE) Essentially, the increase is due to two things that were transpiring last year around this time which were:
- drastically lower housing numbers during the arrival of the virus
- a subsequent strong rebound
I’ve been selling Real estate in the Oakland / Berkeley East Bay Area for years and if I didn’t know any better, I’d be fooled too.
Just be cautious making any decision without speaking with someone who’s got the experience and knowledge to help you with an informed decision. Bottom line, there’s probably going to be some crazy headlines about the sensational real estate market as compared to last year, but don’t be fooled, the market is finally getting back to normal. Feel free to reach out to me and if you’d like a hassle free virtual assessment of your property, I’d be glad to hop on a zoom with you as well.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY EAST BAY AREA. I’ve been in the East Bay 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.