Market Updates

On Friday, March 15th, 2024, the real estate world changed as we knew it. On that day, the National Association of Realtors announced the proposed $400+ million settlement. The internet blew up. People went crazy, and real estate, as we know it, is completely different.

Have you been asking yourself the question, “When are mortgage rates coming down?” Well, congratulations! You found this blog. That’s because today I’m going to try to tackle one of the most challenging questions out there in the market: Are interest rates coming down, and why are they still so high?

Having lived in Alameda, California for over a decade, and regularly dealing with buyers and sellers in the area, we thought it’d be worthwhile to break down the monthly expenses of living here. This encompasses housing expenses, along with groceries, utilities, gas, and more. Let’s dive in with the first one, which is the housing cost. 

In this market update, instead of showing you a bunch of graphs, charts, and stats, we’ve decided to do something different. We decided to do a little actual real-life exercise to try and explain what’s going on in the real world.

Today, we’re bringing you another market update, but it’s more based on perspective this time. It’s really important in this changing market to understand how we got here. This is so that you can understand potentially what might change and thus affect the real estate market going forward.

Wow, what a way to finish up Q3! Today, I want to share a few anecdotes about a few things I’ve observed over the last quarter, as we are now well into quarter four. I hope this Bay Area housing market update will give you a sense of where we’ve been and also help you to potentially see where we’re going.