Buyers, what is the latest news on the housing market that could impact your search? Let’s look at what recent data is showing!!
As of today, the median U.S. sale price is up 5% year over year but we are seeing signs that price growth could slow down for the remainder of the year.
Hi, I’m Tanja Odzak, eXp Realty. I love helping people. I’m a Senior Level Realtor and I help people sell and buy homes right here in the East Bay!
This year we have seen the U.S. median home price hit an all time high of $397,482 despite elevated mortgage rates. This is partly because inventory nationally still remains relatively low causing prices to bump up and sales to slow down. However, recent data is showing signs that prices may take a little bit of a hit as we move into the remainder of the year and Fall season. Why is this? Nationally, we are seeing homes sit on the market longer than they usually do this time of year, indicating there may be more price adjustments required to move inventory. This could be good news for buyers who have been struggling with affordability and can now negotiate better terms in their favor including price. So, as we navigate through this latest market shift it is important to understand as a buyer you may still face challenges, but some of the biggest hurdles are getting better as time goes on.
Also, you may have heard about the new rules requiring home buyers to sign Buyer Agent Representation Agreements upfront before ever stepping foot into a home. Big changes typically tend to slow things down, and this one was HUGE! It is Nationwide and it’s here to stay! As buyers and sellers start adapting, it will start to have less of an impact on the market. By the way! If you have questions about it, I’m happy to talk you through it.
If you have been putting your dream of home ownership on hold and are waiting for prices to ease up, now may be the chance to jump back into the market. Don’t run the risk of waiting too long, as more buyers will enter the market as interest rates come down and buyers adapt to the new rules, and competition will grow again.
If you would like more information on inventory, pricing, and strategy in your East Bay neighborhood, Call me today and let’s talk about it. Working with an experienced knowledgeable Realtor like myself, who can help you navigate the market conditions effectively, will benefit you down the road with your long-term investment.
I’m a seasoned East Bay expert with a 5-star rating. I’ll help you navigate the market and make it happen, whether that’s selling or buying or both!
And if you or someone you know needs to sell a home, 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. Terms do apply. 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?
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