Buyer and sellers, has there been a shift in the housing market? As we move into the Fourth Quarter of 2024, what are the experts predicting 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!
Well, according to National Association of Realtors chief economist Lawrence Yun, “The housing market is seeing a slow shift from a seller’s market to a buyer’s market, with homes sitting on the market a bit longer and sellers receiving fewer offers.” In fact, most buyer’s submitting offers today are asking for all their contingencies and not waiving them to get their offer accepted. Nationally, unsold inventory is at a 4 month supply up from a 3 month supply in the Spring. The last time unsold inventory posted a four month supply was back in Spring 2020, so we are seeing the highest level of inventory in more than four years. Nationally, properties have remained on the market on average 22 days slightly up from 18 days this time last year. Now keep in mind this is a very small shift with supply and demand approaching a more balanced market. Properties that are priced correctly will move quickly and the ones that are not will most likely sit longer. Of course as we all know, the real estate market can be very volatile. If we see mortgage rates come down even further this year, that may shift the market even further with more buyer competition. Also, the new rules requiring Buyers to have a signed agreement with their Realtor before seeing homes may also have an effect as people become adjusted to it. And remember! All regions and cities are different, so it is super important to know what is happening in your nook of the East Bay.
If you would like more information on East Bay housing data, Call me today and let’s talk about it. 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.
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