Still a seller’s market…

Green Escrow | Real Estate

Realtor.com says sellers still dominate the real estate but does offer one caveat based on last week’s activity. Home prices continue to rise – median listings were up 10.8 percent annually – the fastest pace in over two years.

The average time on the market for a home is 12 days less than a year ago. Buyers continue to move very fast in an effort to beat out the competition and lick in low mortgage rates.

As to that caveat: last week buyers demand dropped slightly while the number of new listings showed a smaller decline than had been seen recently. Whether this is a trend or a one-time thing remains to be seen.

The Hottest Real Estate Market in the U.S.? Try Vallejo

Green Escrow | Real Estate News

According to Realtor.com, for the fourth consecutive month the Vallejo metropolitan area is the hottest real estate market in the United States based on the most listings views on the Realtor.com website and the fastest pace of sales.

On the other end of the pricing spectrum, San Francisco is ranked at number 2.

Finally, San Jose has dipped to number 9, it’s lowest ranking in months.

More on Trump and Housing

Market News

Earlier we touched on what the new Trump administration may mean for the California housing market. Needless to say, speculation continues and the San Francisco Chronicle has weighed in with the following points:

  • Increasing infrastructure spending and cutting mortgage regulations would seem to be a boon for housing but could increase the deficit which, in turn, would raise interest rates.
  • Deporting undocumented immigrants would ease the demand on rental units which might actually create a surplus of housing.
  • Tariffs on imported goods might result in a decrease of foreigners buying American real estate.

it’s impossible to gauge the short-term effects of the election as the housing market is entering it’s seasonal slowdown. Some analysts termed the election a “non-event” in terms of the current market and others see the longer-term ramifications as not making a big difference.