The biggest news in real estate right now is undoubtedly centered around lawsuits and settlements. After receiving numerous text messages, phone calls, and emails ranging from current clients all the way to my mother, I thought it was time to address the subject.
I created a video demystifying the myths breaking them down in a way that is understandable. There is A LOT of misinformation out there. Explosive headlines sell like hotcakes, as we all know. Should you still have ANY questions about this, we’d be happy to address them with you.
TLDR: The real estate market in SF is doing well! Consumer confidence is at its highest point in three years. Much of this comes from the soaring stock market; inflation seems to be relatively under control, and record-low unemployment numbers. More data and market commentary below.
Ever since the beginning of the year, and now moving into the spring selling season, striking shifts in supply and demand have occurred and continued to accelerate, resulting in a dramatic leap in the heat and competitiveness of market conditions. Based on current indicators, and what is being experienced on the ground as new listings arrive on the market, deals are negotiated, and homes go into contract, it appears almost certain that significant home price increases will begin to show up in Q2 2024.
In the 8 weeks through early April, the weekly average, 30-year conforming-loan interest rate has oscillated between 6.74% and 6.94%: Up from January, but still well down from last fall. In the last month, the S&P 500 & Nasdaq stock market indices continued to hit new all-time highs, with substantial effects on household wealth. After the big jump in December-January, consumer confidence is at its highest point in almost 3 years. Monthly inflation rates have remained stable since October, ranging from 3.1% to 3.3%: Higher than the Fed’s 2% goal, but reductions in its benchmark rate later this year are still commonly expected.
