Livermore Market Slowdown?

 

We have seen a jump in the inventory of available homes for sale in Livermore and surrounding areas.  We saw a noticeable drop off in demand little over a month or so ago. This slowdown was probably a direct result of the increasing costs to finance a home. Interest rates have climbed quickly making a home purchase that much more expensive. Rather than seeing 15 to 20 offers on a home we are now seeing 2 to 5 offers and now some homes are sitting on market for a period of time. These Sellers may have gotten a little greedy and listed their homes too far over other comparable sales. 

 

Although financing is now more expensive, you might wonder what this increased inventory means for you as a Buyer?  It means you now have more options and less competition to deal with. If you have been sitting on the sideline for awhile, now is  good time to have a second look. If you are using FHA financing you might want to re-enter the Buyer arena. FHA Buyers had been sidelined for quite some time in the heat of the frenzy.  Things have changed! We are seeing a return to “ more normal “ market conditions.

 

If you are considering a sale or purchase please contact me today.  I specialize in the Livermore market area and work with my team to help serve you.  

 

925-580-9829

homes@natalieswanson.com


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About the Author Bill

I help small businesses be more successful.

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