In the recent few weeks we have noticed a significant change in demand in the Contra Costa housing market. There has been a decreased demand from buyers due to the increasing interest rates, stock market adjustments, inflation and national economic forecasts. Buyers seem to be in a “wait and see” pattern to see what is going to happen with in the upcoming months.
Sellers are listing quickly to take advantage of the spring trends. With inventory rates rising buyers have more selection.
Houses are still selling. Due to less demand, homes are staying on the market a little longer with average days on the market increasing and the reduction of multiple offer situations.
This is still a good time to buy and sell! It is actually a positive that the market is balancing a bit. Sellers are still looking at huge increases since the beginning of December 2020 and buyers still have traditionally low interest rates.
Please contact us anytime to discuss the best time to make your move.