Wow, what’s happening in the real estate market right now? Well, it’s slowing down across the nation. This is typical for this time of year, most likely interest rates rising are playing a role in this trend.
Sellers, remember as interest rates increase, a buyer’s buying potential goes down by 10%. So, buyers don’t wait. Interest rates have increased about a half percentage in the past 60 days. According to CNBC rates could go up by another quarter point before the end of the year. We’re anticipating another three rate hikes in 2019.
Another market trend that we’re noticing is that the number of homes that are selling each month is actually going down and the homes are staying on the market about 25% longer than they were just back in July. It is very important to keep track of local and national trends and if you’re interested in learning how these trends affect you as a buyer or a seller please reach out to me.
I always have my pulse on the market and how it affects you as buyer or a seller and we can advise you of what your best course of action should be. I can’t wait to hear from you and as always make it a great home selling and buying day in the Hayward Area.
2018 Quarter 4 Hayward Real Estate Market Report by Casey Serafino-Lee