People always ask, “How’s the market” Let’s break it down in simple terms.

Lately, home prices have been a bit up and down. For around seven weeks, prices stayed the same as last year’s or even went down a little. But here’s the twist – just this week, they went up a tiny bit! It’s like achieving a new high score in your favorite game – a small but exciting victory.

Good news is showing up in the economy and housing market. More homes are getting sold, and the economy is growing. This growth might cause interest rates to go up a bit, including those for mortgages. If you’re thinking about buying a house in the future, it’s smart to keep an eye on these rates.

Even though things seem better, the housing market is still getting back on track. The total number of homes sold this year might be the lowest in over a decade. That’s because people are being cautious about buying, and there aren’t as many homes up for sale. It’s kind of like solving a puzzle – lots of people want homes, but there aren’t enough available. This makes things a bit tricky.

Remember, homes have been taking a little more time to sell compared to before. But the good news is, they’re starting to sell faster again. This means homes might start getting off the market sooner.

So, there you have it – a quick glimpse into the world of housing trends. Just like in life, things can go up, down, and sometimes surprise us. Whether you’re dreaming about your future home or just curious about the world around you, understanding these trends can help you stay in the loop.

If you’re considering a move or investment and require a trusted Real Estate Broker, we’re here to assist you. Contact us via email at TEAM@McDanielCallahan.com, complete the form below, or give us a call at 925-838-4300. We are ready to provide expert guidance and support for all your real estate needs. Terry McDaniel DRE License #00941526