As realtors® and homeowners in the Tri-Valley, The Gamache Team is keeping our eye on the trends in the real estate market. Our clients count on us to price their homes to sell quickly and at a price that attracts a lot of buyer attention. Buyers depend on our knowledge of real estate to guide them to make smart financial decisions in regard to real estate.
2019 saw a sturdy economy with unemployment being the lowest in years, interest rates reaching an exciting low, mortgage applications on the rise, and the sale of existing single-family homes showing a year over year gain for the third consecutive year, according to the California Association of Realtors®.
As we reach the end of the year what can the Tri-Valley expect to see in terms of the real estate market?
Is Now the Best Time to Sell or Buy in the Tri-Valley?
Several sources predict the real estate market in Q4 and beyond will remain strong and steady, creating a more balanced market.
Sellers need to be realistic that home sale prices will be less inflated than in months past, but with less inventory, buyers will be competing for the available homes. Another change of which to be aware is that homes are expected to take a little longer to sell and will not receive multiple offers.
Buyers can expect the traditional transition of less homes on the market due to the holidays, but this can be a positive motivator for buyers who do not want to contend with multiple offers and inflated asking prices. With interest rates projected to remain low, Q4 and the beginning of Q1 is a great time to buy a home.
First time homebuyers and millennials will likely be some of the most active buyers, with low unemployment and favorable interest rates.
What Does the Housing Market Forecast Mean for Investors?
It’s always a good idea to discuss your real estate goals with a trusted financial advisor and to search for a full-time, professional realtor who is familiar and serves the area you are interested in investing.
Whether you are looking for a 1031 exchange or a new property, Q4 and beyond are a great time to invest. New construction is up, and the availability of homes still creates a strong market. Taking advantage of low interest rates can put valuable money that you worked hard for back in your pocket.
Contact The Gamache Team for all of Your Real Estate Needs
The Gamache Team is the perfect blend of experience, energy, and knowledge to offer unmatched service to all our clients! In any phase of real estate, The Gamache Team is prepared to handle it with you. With over 20 years of Tri Valley real estate experience, The Gamache Team is ready to give you the best service possible! DRE #01237538