Homebuyers, have you wondered WHY we have such low housing inventory and what’s causing it?
Hi, I’m Tanja Odzak, eXp Realty, and I help people sell and buy homes here in the East Bay.
Over this last year, the housing market has experienced lower-than-normal inventory levels. So why is this? It is a combination of three factors coming together at the same time to create this scenario.
Lack of Building over Time: For the last 14 years, builders did not construct enough homes which has caused a long-standing shortage of new homes. Total new homes built over the last 14 years have been below the 52-year average.
Mortgage Rates: Some homeowners who are locked in with low mortgage rates do not want to sell and get into a higher mortgage rate. This means fewer existing homes are coming into the market.
And finally, People are just not Moving. Today’s data is showing folks are just not moving as quickly anymore. Since 2010, data shows people are living in their houses longer for an average of nine-plus years versus six years prior to 2010.
Combining all of these factors together creates a low housing supply. But with all that said, as a Realtor, I know exactly where in the East Bay you should look to make your home-buying dream a reality! I study the data and am an expert in our market.
Call me! If you would like more information on the current housing market,
And if you need to sell a home too… ask me about my home selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. I’m Tanja and I sell homes. Let’s get you going, Call me today!
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?