Predicting the Future: Bay Area Housing Trends
Forecasts indicate 2022 will remain a sellers’ market, so if you’re expecting top dollar for your home, now is the time to list. According to Zillow senior economist Jeff Tucker, the pandemic may have contributed to sellers waiting to list their homes for sale this winter, contributing to a lack of inventory. With few homes on the market, house prices are rapidly increasing. According to a report from Redfin published earlier this month, “home prices were up 14%, and pending sales rose 4% from a year earlier despite a record low number of homes for sale.” Demand is high now, don’t wait for supply to catch up. You know what they say- strike while the iron’s hot.
Often we hear sellers make comments about waiting until spring to list their homes. While some markets experience seasonality due to extreme weather conditions, the Bay Area Housing market continues to see strong demand from buyers in the winter. We marketed 119 Florentine Street in San Francisco in the second week of January this year and saw hundreds of buyers come through the door in just days. Priced competitively and staged to the nines, we presented 13 offers to our clients; the sale is pending.
Then there’s the elephant in the room: interest rates. We all know it’s not if interest rates will go up; it’s when. Looming interest rate increases have placed added pressure on buyers already dealing with low inventory and have contributed to the purchasing frenzy. According to a report from Freddie Mac, current mortgage rates hover around 3.55%, which is historically low but will rise. Buyers can still succeed in this market despite the competition, but having a solid strategy will be essential. Working with a top-notch agent is more important than ever, so you can benefit from expert guidance and snag your dream home over other buyers. All agents from our team know what it takes to make that a reality. According to a report from Freddie Mac, mortgage rates hover around 3.55%, which is historically low.
Whether you’re a buyer or a seller in today’s housing market, now is the time to take advantage of low-interest rates. If your goal is to buy or sell a home in 2022, we can help. Our top-performing team with decades of experience knows how to navigate any housing climate. Give us a call today at 415-467-4000. Or you can schedule a strategy call HERE
James Ball, Michele Jauregui and Ron Davis Voyage Real Estate DRE#00961181
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About
Whether you’re contemplating a move from or to Brisbane, San Francisco, or San Mateo County, we remain highly attuned to your needs from the moment we meet until we’ve closed the contract in your favor.
Our region has a reputation for having rough seas, but we have 50+ years of collective experience, and we know the way. We’ve also sold more than 500 properties and charted many courses to success during our long history. We’ll leverage our expertise to ensure that you get to safe harbor quickly, with no shortage of the good kind of adventure.
A real estate professional since 1987, Ron Davis is consistently ranked among the top 2% of Realtors® nationwide. Born and raised in San Francisco, he has a comprehensive knowledge of what the Bay Area’s different cities and neighborhoods have to offer. Ron specializes in residential sales of all kinds, including investment properties, short sales, and REO assets. He is also adept at handling the often delicate, complex sale of a loved one’s estate after they have moved on, and he makes the process as stress-free as possible.
Ron discovered the importance of homeownership at the age of 21 when he and his wife bought their first home in Brisbane, on the southeastern San Francisco border. His mechanical background — he studied aircraft maintenance at John O’Connell Tech in San Francisco — and extensive experience with remodeling, designing, and building homes enable Ron to offer clients expert advice on new construction and remodeling projects. He also holds a Graduate, Realtors® Institute (GRI) designation, recognized as the gold standard for real estate professionalism and knowledge.
A resident of Brisbane, Ron is actively involved in his community and making it a better place to live. He has served on the board of directors of the Brisbane Chamber of Commerce and was recognized as Brisbane’s Citizen of the Year in 1998. He is an active board member of the local Lions Club and has received the Lions Club’s International Melvin Jones Humanitarian Award for his contributions to the community.
In his free time, you’ll find Ron scuba diving, playing drums, making wine with his wife, and hosting Coffee to Close, a podcast featuring notable members of the Brisbane community. Ron loves to travel and has visited more than 25 countries, which he credits for giving him a greater understanding of peoples and cultures. Ron also has a U.S. Coast Guard captain’s license and enjoys boating on the San Francisco Bay.
Whether you’re contemplating a move from or to Brisbane, San Francisco, or San Mateo County, we remain highly attuned to your needs from the moment we meet until we’ve closed the contract in your favor.
Our region has a reputation for having rough seas, but we have 50+ years of collective experience, and we know the way. We’ve also sold more than 500 properties and charted many courses to success during our long history. We’ll leverage our expertise to ensure that you get to safe harbor quickly, with no shortage of the good kind of adventure.
A real estate professional since 1987, Ron Davis is consistently ranked among the top 2% of Realtors® nationwide. Born and raised in San Francisco, he has a comprehensive knowledge of what the Bay Area’s different cities and neighborhoods have to offer. Ron specializes in residential sales of all kinds, including investment properties, short sales, and REO assets. He is also adept at handling the often delicate, complex sale of a loved one’s estate after they have moved on, and he makes the process as stress-free as possible.
Ron discovered the importance of homeownership at the age of 21 when he and his wife bought their first home in Brisbane, on the southeastern San Francisco border. His mechanical background — he studied aircraft maintenance at John O’Connell Tech in San Francisco — and extensive experience with remodeling, designing, and building homes enable Ron to offer clients expert advice on new construction and remodeling projects. He also holds a Graduate, Realtors® Institute (GRI) designation, recognized as the gold standard for real estate professionalism and knowledge.
A resident of Brisbane, Ron is actively involved in his community and making it a better place to live. He has served on the board of directors of the Brisbane Chamber of Commerce and was recognized as Brisbane’s Citizen of the Year in 1998. He is an active board member of the local Lions Club and has received the Lions Club’s International Melvin Jones Humanitarian Award for his contributions to the community.
In his free time, you’ll find Ron scuba diving, playing drums, making wine with his wife, and hosting Coffee to Close, a podcast featuring notable members of the Brisbane community. Ron loves to travel and has visited more than 25 countries, which he credits for giving him a greater understanding of peoples and cultures. Ron also has a U.S. Coast Guard captain’s license and enjoys boating on the San Francisco Bay.