Maggie's Market Minute | 2023 off to a bright start

Happy Lunar New Year! I hope you made it through the storms without leaks or water damage. Hopefully you're dry, but if you need any recommendations for roofers, plumbers, heating specialists, etc, I can help! As you know, the market slowed down in the 2nd half of 2022, inflation shot up to 9.1%, the FED raised interest rates repeatedly, lenders tightened up, mortgage rates followed suit, and buyers became lot more conservative with their offer numbers and terms.  Below is a summary of how we closed out 2022.   Q4 2022 vs Q4 2021  For a detailed report, please click on the Flipbook below. 2023 is Off to a Bright Start I can see clearly now the rain has gone🔆and with that, the year seems to be off to a bright beginning. Inflation is trending down, mortgage rates have decreased (hovering in the 5% range), inventory is low and buyers are out in full force. It seems like the velocity is trending back up.  The latest pulse: competitive bidding, properties that were overlooked last year getting into contract, multiple offers and even some going into contract before hitting the market.  Buckle up and enjoy the 2023 ride! If you paused your home search last year, or you didn't think it's a good time to sell, I highly encourage you to check in with me for hyper local feedback and advice. Cheers! Maggie marketingcenter-sfbayarea-sfcityproper