What’s Going On With Real Estate?
Now that buyers have resumed home shopping, how has the market been overall?
The numbers for May are in. The most striking piece of data for me is the number of homes sold year to date last year versus this year. We are about 62% of homes sold compared to last year in Alameda. March and April were understandably slow. I am not sure how much we can recover for the remainder of the year as many sellers are waiting to put their homes on the market, driving supply down.
Data for May 2020 – Townhomes and Condos
Interest Rates this Week
The rates have dropped this week and are hovering around 2.875-3.125% for a 30 Year fixed loan. This drop will likely encourage more buyers to enter the market.
What’s on the market?
As always, let me know if I can be of service.
I hope you and your family continue to stay well,