With a still very uncertain future ahead of us, what’s next for the Bay Area housing market?
When the COVID-19 pandemic hit the Bay Area, many expected the real estate market to tank. While it certainly slowed for a bit as open houses were prohibited and residents stayed in their homes, it quickly picked back up, fueling a competitive market with low inventory and a strong set of buyers rethinking their living spaces. That continued into 2021 as the suburbs stayed king, demand outstripped supply, and, at least in the Bay Area, many residents have yet to return to an office.
Nina Hatvany, a real estate agent in San Francisco for over 30 years, said the amount of quality, single family homes on the market is usually low in the city, but those houses are now in particularly short supply. Plus, between the continuing pandemic and the inevitable hike in interest rates, now is the time to put a home on the market. “It’s definitely a good time to sell,” Hatvany said. “… I would definitely take advantage since we don’t know what the future will bring.
Jarvis said the region continues to be particularly hot for buyers from San Francisco as many are still looking for more space than they can get in the city.The old adage says that if you’re going to put your home on the market, you better wait until after the Super Bowl. And you definitely can’t sell a home during the winter. Today, none of that holds true. “We’re going to go into a very strong season right away,” Jarvis said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
9 most highly anticipated Bay Area restaurant openings for 2022Here’s the scoop on nine new, hotly awaited restaurants from Walnut Creek to San Jose, plus updates on 12 more we’ve been anticipating for ages.
Read more »
When will it stop raining in the SF Bay Area?Snow levels could fall as low as 1,000 feet in inland areas of the North Bay and East Bay on Tuesday.
Read more »
Families rush to Bay Area mountaintops to see snowIt's not just the Sierra that got blanketed in snow over the Christmas weekend. Mount Diablo and Mount Hamilton received the white powdery stuff as well.
Read more »
COVID: Omicron case counts surge past delta peak in some Bay Area countiesDespite high vaccination rates, the omicron variant is causing a rise in cases across the Bay Area and beyond.
Read more »
Bay Area visitors stranded in Tahoe amid massive snowstorm'There are worse places to be stuck.'
Read more »
Here's how Bay Area counties are handling high demand for COVID testing after holiday weekendChristmas is behind us but omicron is still a top concern, especially as we approach another holiday weekend.
Read more »