So far in 2022, Bay Area real estate markets appear largely unfazed by higher interest rates, volatility in financial markets, and troubling international events.
The prevailing dynamic remains the same
Strong buyer demand competing for an inadequate inventory of listings for sale: crowded open houses, multiple offers, fierce overbidding, and fast sales remain common, especially for houses.
Here is an “Insider” snapshot of a few select houses
All this exuberance is not to say there hasn't been some fallout
There haven't been buyers negatively impacted by higher loan rates and/or recent declines in stock portfolios; and some buyers and sellers have become more hesitant or paused their plans, awaiting more clarity amid recent developments. But not enough to move the needle on the fundamentally high-demand/low-supply conditions which dominated 2021.
There's good news for buyers
As typical at the start of the year, the number of new listings coming on the market and the number of listings going into contract continue to rise. These normally climb rapidly through spring, characteristically the biggest selling season of the year.
For a complete market report, please visit this link.
Are you, or someone you know, ready to move to what's next? Let me know - I can help.
