Homebuyers, If You've Been Waiting ...
... for the perfect opportunity to buy a San Francisco East Bay home, the time is here! Interest rates have dropped to their lowest point in over a year and a half; this could be the most affordable time to make your move.
The Best Week to Buy in 2024: Sept. 29–Oct. 5
According to Realtor.com, the week of Sept. 29–Oct. 5 presents the best conditions for homebuyers this year. Inventory is high, prices have leveled off, and demand has slowed, meaning sellers are more motivated to negotiate. Historically, this week offers the best balance of market factors, giving buyers an edge they haven’t had in years.
Lower Interest Rates = More Purchasing Power
Andy Walden with ICE notes that the recent easing in mortgage rates has brought welcome relief to homebuyers:
"Rates falling below 6.5% made August the most affordable month for housing since February."
This increase in affordability, combined with a cooling in home price growth, puts buyers in an excellent position to secure a great deal on a home in the East Bay.
More Homes on the Market Means More Choices for You
For the 10th month in a row, the number of homes for sale has grown by over 35% year-over-year. This gives you a much larger pool of properties to choose from and reduces the pressure from competing buyers. Ralph McLaughlin, Senior Economist at Realtor.com, says:
"The number of homes for sale is the highest it’s been since May 2020."
Get Ready to Find Your Dream Home
If you’re ready to take advantage of these homebuyer-friendly conditions, now is the time to start your search. With lower rates, more inventory, and motivated sellers, this is your chance to secure a home in the San Francisco East Bay. Contact me today to get started!
Comentários