Moving into the second half of the year, how has the housing market has fared so far?
Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty.
The good news is that despite the many gloomy forecasts from early January, residential real estate markets have returned toward more typical seasonal trends as buyer demand has improved. While challenges still remain for today’s buyers and would-be sellers, there’s hope and growth in the data. As we go through the latest numbers, current data shows showing the housing market is normalizing after two unprecedented years we call the “Unicorn Years”. We are seeing that – in the stabilization of home prices and demand. But on the flip side, we are still seeing a strain on supply. This is causing sellers who may want to downsize or move up to stay put due to the tight supply of finding replacement homes and higher mortgage rates. This low inventory is creating more of a demand for buyers who have returned to the market after six to seven months of being on the fence about buying.
According to Freddie Mac, 18% of Americans said they are likely to buy a home in the next six months. At the same time, 16% of homeowners surveyed said they were planning to sell in the next six months. These are solid indicators of the market returning to a more typical seasonal trend and active market, post-pandemic. And when we look across the country geographically to see where those active listings are growing, we can see it’s pretty widespread. As of June, we saw improvement in active listings compared to last year in the South, the Midwest, and the West regions. The northeast was the one region that showed a decline compared to last year.
As always, if you are planning on buying or selling, it is always important to reach out to your local real estate expert to give you the most up-to-date numbers in your area. Feel free to connect with me.
And ask me about my home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them include my super duper digital marketing that absolutely no one else does in our area. I’m Tanja and I sell homes. I offer simplified and transparent choices!
And if you’re someone that needs to sell a home, ask me about my home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them include my super duper digital marketing that absolutely no one else does in our area. I’m Tanja and I sell homes. I offer simplified and transparent choices!
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?