In the past years the spring housing market was the beginning of the selling season. However, like it is in other States, because of the recent stay-in-place orders and the safety concerns, this year the California real estate season has shifted to the summer.
What does that mean for both sellers and buyers up here in the North Bay areas? There is good news on both fronts! As the Chief Economist for the National Association of Realtors stated:
“In the coming months, buying activity will rise as states reopen and more consumers feel comfortable about homebuying in the midst of the social distancing measures.”
New listings are on a slower – but steady – path to recovery as we move into warmer months. As a seller, including your home in the mix may be your best opportunity to sell. Interest in your home may be higher than you think with inventory so low.
Buyers appear to be more confident than sellers as we enter into the summer. They seem more ready to make up for lost time from the traditional spring market.
Dissatisfaction with homes after being quarantined for several months is motivating buyers to brave the social distancing restrictions and explore better solutions to their living arrangements. Your for sale house may be the solution to their problems!
Sonoma County and other parts of the Bay Area are beginning to see a turn in the market. Prices have remained relatively stable throughout the pandemic, and some areas are actually seeing multiple offers. So, call your realtor, Sellers.
Buyers who need a competitive edge for their offer, can call Sun Pacific Mortgage at 707-523-2099 to apply for a fast, temporary hard money loan that will get you into your new home quickly and easily – even if you have poor credit, difficult to prove income, etc.