Why are home prices staying up despite a COVID-induced down economy?
Apologies if I sound repetitive when I bring up the supply and demand issue. Buyers and Sellers took a break in the early days of SIP, however since Mid-April, both groups have returned to the market and as a result home prices have held.
Interest Rates this Week
Interest rates are still low. 3.25% on a 30 Year Conventional Loan with 20% down.
What’s on the market?
This week in Alameda, 4 properties have Sold (1 below list price, 2 at list price and 1 above list price). This same time last year, 11 properties Sold (2 below list price, 1 at list price and 8 sold above the list price)
If you’d like data for any other cities, let me know.
As always, let me know if I can be of service.
I hope you and your family continue to stay well,