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What a Sellers Market we are in
Dated: 01/25/2013
Views: 823
It's the simple "Supply and Demand" that is fueling this competitive market we are in. Low inventory and buyers trying to take advantage of extremely low interest rates are allowing sellers to get as much as they can for there home. Most sellers in the Bay Area are getting up to 30 or more offers these days.
Some reasons for the low inventory can be contributed to homeowners refinancing to low interest rates, loan modifications and government pressure for banks to work with homeowners in exploring there options before foreclosure.
According to DataQuick, the median price in the Bay Area has increased 32% in the last year. If we can’t get more inventory for buyers, we will continue to see home prices increase at a similar pace.
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Bay East© 2019. CCAR© 2019. EBRD© 2019. Information deemed reliable but not guaranteed. This information is being provided by the Bay East MLS or CCAR MLS or EBRD MLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Data Updated: February 23, 2019 11:54 AM
The data on our web site is taken from third-party sources, and has not been verified by Compass Real Estate - EastBayPro Team or its agents.
*Our readers should independently verify
