March 2019 San Mateo County Market Update

Understand Current Spring 2018 Market Trends

Understand Current Spring 2018 Market TrendsTo understand current 2018 market trends, you need to know what drives pricing and affordability. Also, you need to know more than one factor makes them tick. True, sellers may set a high price But, if it’s more than their local market can bear, they will bring it back down to earth. In fact, to understand current Spring 2018 market trends, it takes a broader brush to paint the picture.

When it comes to affordability, most of us watching how the 2018 real estate market fairs know at least one key thing happened. Interest rates rose a few times. Also, a number of pundits expect them to take another step up. Although, some recent reports from those in the know indicate something else. They show the size of the average monthly mortgage payment needed to buy a home has also trended up. In fact, both these factors add up to affordability taking a hit. At the same time, Spring 2018 market trends show low inventory and bidding wars taking center stage.

Understand Current Spring 2018 Market Trends In Low Inventory

It’s true. Not only do many local markets have low inventory for established homes, the rate of new homes being built is low. In fact, compared to population growth, new home construction seems behind the 8 ball. Think to the tune of a few million units. As a result, with less homes to pick from, bidding wars have become more common. You can guess what happens. Selling prices can soar up. That in turn, pushes home pricing indexes.

Understand current Spring 2018 market trends in the building industry and what needs to happen. Home developers need to step up in a solid game plan. In fact, they must address low inventory.

Understand Current Spring 2018 Market Trends and What Lift Needs to Happen

Clearly, we need more homes. Builders must have sufficient incentive to build them. Also, they should see high demand as the prime directive.

Current home buyers and sellers should step up in solid game plans. Take advantage of the leverage in pricing and affordability available now. In fact, pricing is expected to keep rising, with added negative factors in affordability. As a result, the symbiotic relationship between buyer and seller falls in the cross hairs. And, the residential real estate market may likely look more spartan later, 2018.

In San Mateo County CA real estate, step up with a marketing guru. Step up with someone, who has a remarkable track record in finding homes and selling homes. In fact, that seems prerequisite, in one of the nation’s markets most resembling Spring 2018 market trends. Also, you find that kind of expert lift, in Five Star Real Estate Agent, Carmen Miranda. If you have a real estate need, why not give her a call?