Summer is here and so are your plans for buying or selling a home this summer. But is it a good idea? Let’s see what experts have to say about the real estate market looks and where it’s going. Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty and I want to help guide you toward the best decision for your family and your biggest asset, your home.
Looking at mortgage rates, Sam Khater, Chief Economist with Freddie Mac, says, “Mortgage rates continue to inch downward this week, but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk and supply is on the rise and the housing market is normalizing.” After the way the market has looked the last couple of years, this is welcomed relief to many. With less buyers and more sellers out there, there is hope out there for the buyers that are STAYING in the market. In addition to this, despite a tic up in the interest rate by the Feds (that was intended to stabilize things), data from Freddie Mac suggests that mortgage rates have stabilized (Slide 4) over the past few weeks, giving more hope to buyers that fewer people will see themselves being priced out of the current market. That’s where we are at right now, keep coming back as we break down the market even further!
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.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?