Will the market ever slow down? The short answer is yes. We think that eventually a combination of raising interest rates, buyer fatigue and the fact that there’s only so purchasing power out there it’s going to slow things down. But there’s no sign that’s really happening anytime soon.
What is driving prices at the beginning of this year is the sheer lack of homes for sale. So buyers have to fight each other over what little there is, driving prices up.
First week of March there are only eight homes for sale in all of Walnut Creek. There should be 30 😲. Moraga has three for sale. Three homes! That’s it. And we are into March already. So when will the market ever slow down?
We’re seeing a lot of buyers decide to just give up or wait. They are frustrated or priced out altogether. Bottom line is we need more homes for sale so if you’re watching this and thinking about it, give me a call!